OPEC+ Countries Agree on Oil Production Increase Following UAE Withdrawal
Seven OPEC+ countries with voluntary production cuts (Russia, Saudi Arabia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman) are likely to agree on another increase in oil production quotas; however, it will be adjusted to take into account the UAE’s withdrawal from the organisation, Reuters reported citing sources.
The Emirates News Agency (WAM) reported on Tuesday that the UAE will withdraw from OPEC and OPEC+ starting May 1.
“This is a strategic decision based on a long-term economic vision”, said Afra Al-Hameli, Director of the Strategic Communications Department at the UAE Ministry of Foreign Affairs.
According to a source of RIA Novosti in one of the OPEC delegations, the organisation had not been informed of the country’s intentions.
“The seven OPEC+ member countries at the meeting on Sunday are likely to agree on another increase in oil production targets, while the scale of the increase will be reduced taking into account the withdrawal of the United Arab Emiratesfrom the group of producers,” the agency writes.
As Reuters notes, against the backdrop of the effective closure of the Strait of Hormuz, only a few producers are actually able to increase production. Before the unexpected announcement of the UAE’s withdrawal from OPEC and OPEC+, it was expected that the eight countries would begin increasing production targets by 206 thousand barrels per day in June, as in April and May, sources told the agency.
Now, according to Reuters sources, the countries are likely to proceed with a similar increase, excluding the UAE’s share of 18 thousand barrels per day.
Earlier, eight OPEC+ countries with voluntary restrictions decided to increase the oil production limit by 206 thousand barrels per day in May compared to the level in April.
In September 2025, the “group of eight” completed an early exit from cuts of 2.2 million barrels per day, and in October began a gradual phase-out of an additional production restriction of 1.65 million barrels per day. For January–March 2026, OPEC+ paused production increases, and then decided in April to raise the production ceiling by 206 thousand barrels per day.
