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Eight OPEC+ countries will set their oil production plan for December

01 November 2025 23:30 (UTC +04:00)

Eight OPEC+ countries, including Russia and Saudi Arabia, will decide on their December oil production plan at an online meeting on Sunday, APA reports.

Since the beginning of 2024, eight OPEC+ countries (Russia, Saudi Arabia, Iraq, the UAE, Kazakhstan, Algeria, Oman, and Kuwait) have voluntarily reduced oil production by a combined 2.2 million bpd. Beginning in April 2025, these countries began gradually returning the reduced barrels to the market, and in September, the OPEC+ G8 fully exited the voluntary cuts of 2.2 million bpd, a year ahead of the original plan.

In October, these countries began to gradually abandon the 1.65 million bpd oil production cut, agreeing to increase it by 137,000 bpd. A decision was also made to increase production by 137,000 bpd in November.