Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent: The fifth round of Iran-US talks ended after three and a half hours.
Al Mayadeen's correspondent: The fifth round of indirect talks between Iran and the United States has begun at the headquarters of the Sultanate of Oman's mission in Rome.
Turkish public prosecutor has issued arrest warrants for 63 active-duty military personnel over alleged links to a group accused of orchestrating the 2016 coup attempt
Kremlin says no agreements yet on next platform for Russia-Ukraine negotiations
YAF spokesperson: We targeted Lydd Airport, known as Ben-Gurion Airport, with a hypersonic missile
Al Mayadeen's correspondent in Lebanon: Two Israeli airstrikes targeted Wadi al-Aziziya in the Tyre district.
CIA spokesperson says law enforcement responded to a security incident outside CIA headquarters.
Brigadier General Saree: Operation achieved its targeted successfully, forcing millions of Zionists to flee to shelters, and halted air traffic at the airport.
YAF spokesperson: We've executed a military operation targeting Ben Gurion Airport in occupied Yafa with ballistic hypersonic missile.
IOF warning forces residents to evacuate and head South in preparation for expansion of aggression.

OPEC+ eyes full return of 2.2 million barrels amid compliance rift

  • By Al Mayadeen English
  • Source: Agencies
  • 4 May 2025 21:00
3 Min Read

OPEC+ moves to restore 2.2 million barrels to the market by November, as Saudi Arabia pushes back against quota violators and internal tensions mount over compliance and falling oil prices.

Listen
  • x
  • The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of their headquarters in Vienna, Austria, March 3, 2022.  (AP)
    The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of their headquarters in Vienna, Austria, March 3, 2022. (AP)

OPEC+ is rapidly advancing its plan to boost oil production, with up to 2.2 million barrels per day expected to return to the market by November, Reuters reported, citing five insiders familiar with internal deliberations. The shift, driven by Saudi Arabia, is as much about punishing quota violators as it is about responding to market conditions.

The decision follows a series of surprising output hikes, with production already ramped up for April, May, and June, totaling nearly 1 million barrels per day. A further increase of 411,000 bpd is expected for July. Saturday's announcement, made during a short virtual meeting, is part of a broader effort to unwind the voluntary 2.2 million bpd cut agreed upon last December by eight OPEC+ nations, including Saudi Arabia, Russia, Iraq, and the UAE.

While the official narrative from OPEC+ maintains that the oil market's "fundamentals are healthy," recent price trends suggest otherwise. Brent crude futures dropped over 1% on Friday to $61.29 per barrel, the lowest level in nearly four years. Analysts attribute the decline to investor concerns over oversupply, softening global demand, and pressure from US tariff policies.

Quota clash

The internal dynamics of the alliance are growing increasingly strained. Saudi Arabia has taken aim at Iraq and Kazakhstan for allegedly repeatedly breaching their production ceilings. "Saudi Arabia repeated its warnings against poor compliance on Saturday," said one source. The move reflects Riyadh's refusal to continue shouldering the burden of market stabilization, a role it has played since the 2020 price collapse.

Related News

OPEC+ to boost oil output again amid market weakness, internal rift

US energy chief Chris Wright heads to Middle East for two-week tour

Tensions with Kazakhstan escalated last month after its energy minister publicly prioritized national interests over OPEC+ discipline. The country exceeded its output quota in April despite a 3% overall decline in production.

"Compliance again appears to be the key focus, with Kazakhstan and Iraq continuing to miss their compensation targets, alongside Russia to a lesser extent," said Helima Croft of RBC Capital Markets in a statement to Reuters.

Strategic shift

The stakes are further heightened by an upcoming visit from US President Donald Trump, who has persistently demanded increased oil output to curb rising fuel prices at home. Trump's agenda in Riyadh is expected to include energy, arms sales, and nuclear cooperation, amplifying speculation that geopolitical alignment is shaping OPEC+ strategy.

Saudi Arabia's shift also signals a larger strategic departure. After years of cutting output to stabilize prices, the kingdom is now positioning itself to expand market share, even if that means enduring lower revenues in the short term.

"If compliance does not improve, the voluntary cuts will be unwound by November," warned one of the sources, referencing the potential full release of the 2.2 million bpd held back by eight members.

Read more: EU spent more on Russian oil, gas than Ukraine aid, report finds

Speaking to Reuters, analyst Giovanni Staunovo of UBS cautioned that "news of accelerating hikes will weigh on oil prices until compliance improves," hinting at more volatility ahead if quota violations persist.

A full OPEC+ ministerial meeting is scheduled for May 28 to assess market conditions and determine the next steps.

  • OPEC
  • Oil Production
  • OPEC+
  • Oil prices
  • Saudi Arabia

Most Read

YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025
Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

  • MENA
  • 17 May 2025
Rachel Accurso criticized for speaking out on Gaza children crisis

Ms. Rachel accused of antisemitism for speaking out for Gaza children

  • Politics
  • 20 May 2025
Martyrs, injuries in violent Israeli bombardment of southern Gaza

Israeli operation fails; IOF launch violent strikes on Gaza

  • Politics
  • 19 May 2025

Coverage

All
War on Gaza

Read Next

All
Eric Coquerel, a parliament member of the far-left La France Insoumise (The Unbowed) party attends a demonstration outside Sciences-Po university in Paris, Friday, April 26, 2024 (AP)
Politics

French teacher suspended for minute of silence in solidarity with Gaza

Palestinian landlord Akram Sabra, 60, stands next to a vehicle burnt under attack by Israeli settlers overnight, in the West Bank village of Bruqin, near Salfit Friday, May 23, 2025. (AP Photo/Nasser Nasser)
Politics

Israeli settlers torch homes, vehicles in West Bank village

Iranian Foreign Minister Abbas Araghchi, left, reads a paper in a meeting with his Omani counterpart Sayyid Badr Albusaidi at the Omani Embassy in Rome during the fifth round of Iran-US negotiations, Friday, May 23, 2025 (Iran Foreign Ministry)
Politics

Iran-US talks in Rome yield limited progress, Omani FM says

AP
Politics

EU sought ship, port, energy ties in nixed proposal to Trump: Report

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS