The OPEC has agreed to increase crude oil production by 188,000 barrels per day starting June 2026, in a move aimed at balancing global supply and stabilising the energy market.

The decision was reached during a virtual meeting held on May 3, involving key member countries and partners, including Kazakhstan, Algeria, and Oman.

The adjustment marks the group’s first major policy shift following the exit of the United Arab Emirates earlier in the month, a development widely seen as significant given the country’s production capacity and long-standing role within the alliance.

According to OPEC, the increase forms part of a gradual rollback of voluntary production cuts introduced in 2023, while maintaining a cautious approach to ensure market stability.

The group emphasized that it retains flexibility to pause or reverse output changes depending on evolving global demand and supply conditions.

It also reaffirmed its commitment to existing cooperation agreements, noting that member countries will continue to compensate for previous overproduction, with regular monthly assessments to guide policy decisions.

OPEC is expected to convene its next meeting on June 7 to further review market conditions and production levels.