Nigeria has again been excluded from members of the Organisation of Petroleum Exporting Countries and its allies (OPEC+) that will be allowed to increase their oil production. The oil cartel had during its meeting agreed a small oil output increase of 137,000 barrels per day for December and a pause in increases in the first quarter of next year.
According to a report on OPEC’s website, the benefiting members are Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman. The new production schedule showed that Algeria would increase its production by 4,000b/d in December, making its total output for the month 971,000b\d, while it will retain same for January, 2026, February and March, 2026.
Iraq will increase its supply by 18,000b/d, making its total production for December 4.273million barrels per day (mbpd) and retain same till March, 2026, while Kuwait will supply extra 10,000b\d in December making its total supply for December to be 2.580mbpd which will be remain monthly till March 2026. Saudi Arabia’s production will rise by 41,000b/d in December to 10,103 to be retained monthly till March, 2026, while UAE’s supply will increase by 12,000b\d to 3.411mbpd in December and retained monthly till March, 2026.
Kazakhstan’s supply was hiked to 7,000b\d to a total of 1.569mbpd in December to be retained till 1.569mbpd, Oman’s production to rise by 4,000b\d to reach 811,000b\d and retained till March 2026 and Russia’s output to rise by 41,000 to 9.574mbpd in December and remain same monthly till March 2026.
Recall that in October, Nigeria was excluded as OPEC+ increased its output by 137,000b/d The production increase took from November 2025 and involved also Saudi Arabia to supply 10.061mbpd; Russia, 9.532mbpd; Iraq, 4,255mbpd; UAE, 3.399mbpd; Kuwait, 2.589mbpd; Kazakhstan, 1.563mbpd; Algeria, 987,000b\d; and Oman, 808,000b\d. According to the current statement, the eight OPEC+ members will meet again on November 30, the same day as a full OPEC+ meeting.
It read: “Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on current healthy oil market fundamentals and steady global economic outlook and adjust production “The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 2 November 2025, to review global market conditions and outlook.
“In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137 thousand barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023.
This adjustment will be implemented in December 2025. “Beyond December, due to seasonality, the eight countries also decided to pause the production increments in January, February, and March 2026.” It added: “The eight participating countries reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner.
The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to continue pausing or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023.
