OPEC+ to Hold Virtual Meeting on June Oil Production Plan
Axios (Tổng hợp từ TASS)
OPEC+ key members are set to hold a virtual meeting on May 3 to discuss June oil output plans, amid uncertainty over UAE participation after its OPEC exit announcement. Eight leading nations are already phasing out voluntary cuts, and a preliminary agreement among seven members suggests a June output increase of 188,000 bpd.
According to a statement from TASS, the monthly online meeting of key OPEC+ member countries, including Russia and Saudi Arabia, will take place at 1:00 PM Moscow time (10:00 AM GMT) on May 3 to discuss the oil production plan for June.
Currently, eight leading OPEC+ nations — Russia, Saudi Arabia, the United Arab Emirates (UAE), Iraq, Kazakhstan, Kuwait, Oman, and Algeria — have begun phasing out their voluntary production cuts starting April 2025.
At the end of April 2026, the UAE announced its withdrawal from OPEC and OPEC+, effective May 1. A TASS source within a delegation said it remains unclear whether the UAE will take part in the May 3 meeting.
Earlier, Reuters reported from informed sources that seven key OPEC+ members (excluding the UAE) had reached a preliminary agreement to increase oil output by 188,000 barrels per day in June compared to May.
