The organization's statement confirms that oil output quotas remain unchanged in December compared with September. The total permitted output for all seven participating countries of the alliance stands at 36.206 million barrels per day.
Key points of the OPEC+ decision
According to the statement, the participating countries had previously completed their exit from the voluntary oil production cut, which stood at 1.65 million barrels per day. Thus, over the past year and a half, 3.85 million barrels per day that had been cut earlier have returned to the market.
Outlook and next steps
Experts note that, despite increased supplies and production through the Strait of Hormuz, the actual output of the participating countries remains below the established quotas for now. A possible revision of quotas upward could occur in spring 2027 if forecasts for rising demand for crude prove correct.
The next OPEC+ meeting is scheduled for November 29. It is noted that since May 1, 2026, the alliance has been operating as a group of seven following the United Arab Emirates' withdrawal from OPEC and OPEC+.
