EuroWire, VIENNA: OPEC+ said on April 5 that eight participating countries will raise oil production by 206,000 barrels per day from May, extending a measured increase in supply under the group’s existing output framework. The decision was announced after a virtual meeting involving Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman. The producers said the adjustment will take effect for May 2026 and forms part of the schedule already set out for the voluntary reductions being unwound in stages.
The May increase follows an earlier 206,000 bpd adjustment for April, making it the second consecutive monthly rise of the same size announced by the same eight countries. OPEC said the latest step was agreed during a review of global market conditions and near-term supply data. The group did not announce any change to the broader OPEC+ alliance structure, and the April 5 decision applies specifically to the eight countries that have been implementing additional voluntary reductions outside the wider producer pact.
OPEC said the May adjustment remains linked to the gradual unwinding of 1.65 million bpd in voluntary cuts first announced in April 2023. The organization also said the eight countries would hold another meeting on May 3 to review market conditions, conformity and compensation. The statement kept the focus on the existing production management process and presented the May increase as the next step in a sequence of monthly supply changes already signaled by the participating countries as part of their current output path.
Compensation plans remain in focus
Alongside the production adjustment, OPEC said the eight countries reaffirmed their commitment to full compensation for any excess output produced since January 2024. The organization said the May move is being implemented in parallel with efforts to accelerate compensation for past overproduction. That keeps compliance at the center of the current arrangement, with production increases and compensation obligations running together under the framework agreed by the participating countries and monitored through the alliance’s existing review process.
In a separate statement issued after the Joint Ministerial Monitoring Committee meeting, OPEC highlighted the importance of protecting international maritime routes and said attacks on energy infrastructure can have prolonged effects on supply because repair work can be costly and time-consuming. The group also said some participating countries had helped reduce market volatility by using alternative export routes. Those remarks were issued on the same day as the output decision and formed part of the official backdrop to the producer alliance’s latest market review.
Oil market watches implementation
Oil prices remained elevated after the announcement, with Brent crude trading above $109 a barrel in April 6 market activity as supply concerns persisted. The OPEC decision nonetheless provided a confirmed timetable for the next monthly output increase by the eight countries involved in the voluntary cut adjustments. By setting the May rise at the same level as April, the group maintained continuity in the pace of the current unwind while keeping the focus on implementation, compliance and the next scheduled review in early May.
The April 5 decision leaves in place the core elements of the current OPEC+ supply arrangement while adding a defined volume for May from the eight participating producers. The group’s statement set out the size of the increase, the countries involved, the connection to the 2023 voluntary cuts and the continued requirement to compensate for past overproduction. Announced from OPEC in Vienna after the virtual meeting, the update provides the latest formal production guidance from the alliance for the month ahead.