{"id":122736,"date":"2025-08-04T16:46:43","date_gmt":"2025-08-04T11:46:43","guid":{"rendered":"https:\/\/pni.net.pk\/en\/?p=122736"},"modified":"2025-08-04T16:46:43","modified_gmt":"2025-08-04T11:46:43","slug":"eight-opec-countries-to-increase-oil-production-in-sep","status":"publish","type":"post","link":"https:\/\/pni.net.pk\/en\/latest-world-news\/eight-opec-countries-to-increase-oil-production-in-sep\/","title":{"rendered":"Eight OPEC+ countries to increase oil production in Sep"},"content":{"rendered":"<p>ASTANA, Aug 04  : The eight OPEC+ countries, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 3 August 2025, to review global market conditions and outlook, Kazinform News Agency learned from opec.org.<br \/>\n\u201cIn view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 547 thousand barrels per day in September 2025 from August 2025 required production level,\u201d a statement reads. It is noted that this is equivalent to four monthly increments.<br \/>\nAccording to the statement, \u201cthe phase-out of the additional voluntary production adjustments may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability.\u201d \u201cThe eight OPEC+ countries also noted that this measure will enable the participating countries to accelerate their compensation.<br \/>\nThe eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that were agreed to be monitored by the JMMC during its 53rd meeting held on April 3rd 2024.<br \/>\nThey also confirmed their intention to fully compensate for any overproduced volume since January 2024. The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on September 7, 2025,\u201d reads the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASTANA, Aug 04 : The eight OPEC+ countries, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 3 August 2025, to review global market conditions and outlook, Kazinform News Agency learned from opec.org. \u201cIn view of a steady global economic [&#8230;]<\/p>\n<p>\n","protected":false},"author":16,"featured_media":122737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-122736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-world-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Eight OPEC+ countries to increase oil production in 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