Dubai, United Arab Emirates – Web Desk: The OPEC and its allied producers have agreed to adjust oil production by 188,000 barrels per day starting June 2026, in a move aimed at maintaining global market stability.
The decision was taken by a group of key producers, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.
The adjustment comes shortly after the United Arab Emirates announced its exit from the oil producers’ alliance, marking a significant shift in the global energy landscape.
According to OPEC, the production changes will take effect from June this year, with member states reaffirming their commitment to stabilizing oil markets amid ongoing geopolitical tensions and fluctuating demand.
Energy analysts say the move reflects continued efforts by major oil producers to balance supply and demand, prevent price volatility, and ensure long-term market stability.
The decision is being closely watched by global markets, as oil output levels remain a key factor influencing energy prices and economic conditions worldwide.
