July 5, 2025
In a carefully coordinated move, eight members of the OPEC+ alliance, including the Sultanate of Oman, have agreed to boost oil production by 548,000 barrels per day starting in August 2025. The decision was announced following a virtual ministerial meeting held on Saturday.
The group, which also includes Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, and Algeria, said the move aligns with a previously agreed plan to gradually raise production by 2.2 million barrels per day over 18 months—from April 2025 to fall 2026. The plan had originally been delayed due to weak demand and rising competition from non-OPEC+ producers.
According to the official statement, the decision reflects a “steady global economic outlook” and the need to address low oil inventory levels. The group’s latest move could ease upward pressure on energy prices, particularly after last month’s sharp volatility caused by the 12-day Israel-Iran conflict. That crisis temporarily sent oil prices soaring before a U.S.-brokered truce helped stabilize markets.
Oman’s participation highlights its role as a responsible energy producer and a committed partner within the OPEC+ framework. The Sultanate had previously implemented voluntary production cuts since April 2023 and is now aligning with the broader strategy for market stabilization and gradual recovery.
This production hike is expected to impact global supply dynamics and may contribute to further easing gasoline prices in the second half of the year.
International Source:
OPEC+ to boost oil production by 548,000 barrels per day starting August 2025 – Associated Press
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