By Deutsche Welle
After meeting electronically and two days after the departure of the United Arab Emirates from OPEC, Saudi Arabia, Iraq, Kuwait and Algeria (all from OPEC), as well as Russia, Oman and Kazakhstan announced in a statement that The alliance’s production will be increased by 188,000 barrels per day (bd) starting in June 2026.
In the text, the Organization of the Petroleum Exporting Countries and its allies recall that this “voluntary adjustment” is added to the increase in output announced last April (206,000 bd), which “reaffirms their commitment to market stability.”
The Strait of Hormuz Obstacle
“Countries will continue to closely monitor and evaluate market conditions and, in their continued efforts to support market stability“, indicates the note of the seven.
The increase announced today is only theoretical, since producers in the Persian Gulf are still unable to export part of their crude oil due to the blockade of the Strait of Hormuz due to the unresolved war between Iran and the United States.
