The OPEC+ alliance has reaffirmed its unified commitment to maintaining stability in global oil markets and ensuring a balanced supply-demand environment. Following its latest ministerial meeting on Friday, the group announced an adjustment of oil production by 137,000 barrels per day, effective November.
In its statement, the alliance explained that the decision reflects a proactive approach to market fluctuations, aiming to sustain prices within a stable range that supports both producers and consumers. Member countries emphasized the need for ongoing policy coordination while closely monitoring geopolitical and economic developments influencing global demand.
Ministers from key producers — including Saudi Arabia, Russia, the UAE, and Iraq — reaffirmed their commitment to measured and flexible actions that uphold market balance, highlighting that OPEC+’s strategy is guided by data-driven analysis and long-term planning, rather than reactive measures.
The decision comes amid global energy market uncertainties, including slower economic growth in some regions and the continuing transition toward renewable energy, requiring a balanced approach to ensure energy security and revenue sustainability for producing nations.
OPEC+ concluded by reaffirming its readiness to monitor market conditions on a monthly basis and implement additional adjustments if necessary to preserve price stability and meet growing global energy needs.
