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OPEC: Decided to implement an oil production adjustment of 188k barrels per day, with another meeting scheduled for June 7.
BlockBeats message. On May 3, OPEC issued a statement. On May 3, 2026, seven OPEC+ countries (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman) held an online meeting to review global market conditions and prospects.
The seven participating countries decided to implement a production adjustment of 188,000 barrels per day, on the basis of the additional voluntary adjustments announced in April 2023. This adjustment will be carried out in June 2026. The seven countries will hold another meeting on June 7. (Jin10)