economy
May 4, 2026
OPEC+ raises oil quotas amid internal tensions and falling real production
The war in the Middle East has severely impacted the oil market. Photo: Image generated with artificial intelligence.
TL;DR
- Seven major OPEC+ members will increase joint production by 188,000 barrels per day from June.
- The move aims to maintain global energy market stability amidst geopolitical challenges.
- The United Arab Emirates recently exited the group, creating questions about internal cohesion.
- Actual production from many member countries falls below their official quotas.
- Tensions in the Middle East and issues affecting Russia's production contribute to the output gap.
- The UAE's departure is seen as a significant blow due to its production capacity.