• OPEC+ approved a 188,000 barrels per day oil production increase for June during a virtual policy meeting
• The output increase will be carried out by seven member countries led by Saudi Arabia and Russia
• The adjustment forms part of the voluntary production framework first introduced in April 2023

OPEC+ has approved a modest increase of 188,000 barrels per day (bpd) in oil production quotas for June, pressing ahead with its supply strategy even as the United Arab Emirates (UAE) formally exits the alliance.

The decision was reached during a virtual meeting on Sunday, May 3, underscoring the group’s attempt to project stability at a time of growing uncertainty in global oil markets.

The production increase, which will be implemented by seven participating countries led by Saudi Arabia and Russia, is part of the additional voluntary adjustments first announced in April 2023.

OPEC+ said the move reflects its continued commitment to market stability despite rising geopolitical tension and internal strains within the bloc.

In a statement following the meeting, OPEC said the seven producers had agreed to implement a collective production adjustment of 188,000 bpd from June as part of efforts to maintain balance in the global oil market.

The increase, however, is widely viewed as largely symbolic, as actual supply growth remains constrained by ongoing export disruptions in the Gulf.

A major obstacle remains the Strait of Hormuz, the vital shipping route that handles roughly one-fifth of global crude and liquefied natural gas flows.

Continued disruption in the waterway has limited the ability of producers to move additional barrels into the market, making the latest quota increase more of a policy signal than a material supply boost.

The latest adjustment comes as OPEC+ continues efforts to gradually restore production volumes that were previously cut during the pandemic-era oil crash.

But those plans have become more difficult to execute amid geopolitical tensions, regional conflict, and mounting supply chain constraints.

The decision also marks OPEC+’s first major output move since the UAE formally left the alliance on May 1.

Abu Dhabi’s departure followed years of tension with Saudi Arabia over production limits, quota allocations, and broader regional influence. The UAE had repeatedly pushed for greater flexibility to raise output and expand its market share.

The UAE announced its decision to leave OPEC on April 28, a move that surprised several members and exposed deepening fractures within the group.

Although OPEC+ avoided direct mention of the UAE in its official statement, the omission was widely seen as a sign of diplomatic distance and growing discomfort over the split.

Despite the exit, OPEC+ is maintaining its formal policy of gradual output restoration, signaling a business-as-usual approach as it seeks to preserve confidence in its market influence.

Analysts say the alliance is trying to downplay internal divisions while reassuring traders that it remains capable of coordinating supply.

The UAE’s departure could have longer-term implications for global oil dynamics.

Free from OPEC+ quota restrictions, the country may be able to raise production more aggressively once export conditions improve, potentially intensifying competition and weakening the group’s ability to manage prices.

At the same time, Abu Dhabi is already moving to strengthen its independent energy strategy. Its national oil company, ADNOC, has announced plans to accelerate upstream and downstream investments, backed by about 200 billion dirhams (roughly $55 billion) in energy project spending.

The investment push signals a more ambitious long-term production strategy outside OPEC+ constraints.

OPEC+ is expected to revisit its production strategy at its next policy meeting on June 7, where members will assess market conditions, geopolitical risks, and the feasibility of further output adjustments.

OPEC extends Nigeria’s 1.5 million bpd oil production quota to 2026

Meanwhile, TheRadar earlier reported that the Organisation of Petroleum Exporting Countries (OPEC) had extended Nigeria’s oil production quota of 1.5 million barrels of crude per day (bpd) to December 2026.

OPEC extended the level of overall crude oil production for OPEC and non-OPEC participating countries “in the DoC as agreed in the 35th OPEC and non-OPEC Ministerial Meeting, as per the attached table until 31 December 2026.”

It also extended the assessment period by “the three independent sources” to the beginning of November 2026, to be “used as guidance for 2027 reference production levels.”