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OPEC+ hikes oil production quotas without mentioning UAE pull-out

World News

03-05-2026 | 07:14

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OPEC+ hikes oil production quotas without mentioning UAE pull-out

Saudi Arabia, Russia, and five other OPEC+ countries increased their oil production quota on Sunday in an expected move aimed at demonstrating continuity at the cartel after the shock withdrawal of the United Arab Emirates.

The seven major producers will add "188,000 barrels per day" to their total production quota for June, as part of "their collective commitment to support oil market stability," according to a statement published by OPEC+. The statement made no mention of the United Arab Emirates, which quit the body this week.

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