UAE Minister of Energy: OPEC+ sacrifices itself for market stability

The countries of the OPEC+ alliance are consciously making sacrifices for the stability of the global oil market, despite the fact that their share is less than 50%. This was stated by UAE Energy Minister Suhail al-Mazroui at the OPEC international seminar held on July 9-10 in Vienna. 

He noted that September 2025 will mark 10 years since the creation of OPEC+, but questions about the relevance of the organization are still being raised.

Eight countries, including Russia, Saudi Arabia and the UAE, have voluntarily limited oil production by 1.65 million barrels per day until the end of 2026. Another 2.2 million barrels, reduced later, began to gradually return to the market from April.

Since May, the alliance has accelerated the release of restrictions: in August, production will increase by 548 thousand barrels per day. However, taking into account the schedule of compensation for overproduction, the real increase will be only 502 thousand barrels. For Russia, this means an increase in the quota to 9.181 million barrels per day, instead of 9.344 million.