The countries of the Organization of Petroleum Exporting Countries known as OPEC decided to increase their maximum oil production limit. The eight OPEC participating countries decided to adjust production to 137 thousand barrels per day from the 1.65 million barrels per day announced in April 2023, with this adjustment to be implemented in December 2025. OPEC countries will also hold monthly meetings to assess market conditions, compliance, and compensations, as well as establish production quotas as part of an agreement to stabilize the market. In turn, the members of the organization will meet on November 30, 2025, to make adjustments to the compensation schedule for previous overproduction.<br /><br />#teleSUREnglish #OPEC #OilProduction #EnergyMarket #GlobalEconomy<br />
