“OPEC+” maintains the current production plan and stresses full commitment to the compensation mechanism

Today, the OPEC+ alliance kept the current production shares plan, while the OPEC Amana was assigned to develop a mechanism to assess the extreme sustainable production capacity of the participating countries, to use it as a reference in determining the basis for production for the year 2027 for all countries of the Cooperation Declaration.

The member states of OPEC and participating from outside it held their 39th ministerial meeting, which comes in light of the continuous commitment by the member states of the “OPEC” organization and the countries producing from outside it participating in the declaration of cooperation by maintaining the stability of the oil markets.

The countries participating in the meeting decided to reaffirm the framework of the cooperation declaration, which was signed on December 10, 2016, which was emphasized in subsequent meetings, in addition to reaffirming the level of total production, from crude oil, for the member states of the OPEC and the countries producing from outside it participating in the cooperation declaration, as agreed at the 38th ministerial meeting of the OPEC+, until December 31, 2026.

The meeting also decided to reaffirm the powers granted to the joint ministerial committee to monitor production to conduct an accurate assessment of the global oil markets, production levels, and the level of commitment to announce cooperation, with the support of the General Secretariat of OPEC, knowing that the ministerial committee meetings will be held every two months, to the perpetrator of reaffirming the powers granted to the joint ministerial committee to monitor production to hold additional meetings or call to hold the ministerial meeting OPEC member states and participate from outside, at any time, to deal with market developments, whenever you see it necessary.

The meeting stressed the maximum importance of achieving full commitment and commitment to the compensation mechanism, indicating that the 40th ministerial meeting of the member states of OPEC and participation from outside it will be held on November 30, 2025.