# Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman Adjust Production and Reaffirm Commitment to Market Stability

> Seven OPEC+ countries (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman) met virtually on June 7, 2026 and agreed to add 188,000 bpd to July production. The statement said the voluntary cuts from April 2023 may be returned in part or in full depending on market conditions. The members reaffirmed flexibility to pause or reverse the increases.

- Date: 2026-06-07 · published 2026-06-07T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/18717-saudi-arabia-russia-iraq-kuwait-kazakhstan-algeria-and-oman-adjust-production
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The increase is small relative to the supply lost through Hormuz, so it does little to offset the energy supply shock. Feed buyers should watch whether the group's flexibility leads to a faster return of barrels later in the year.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-05 | [OPEC+ states adjust production, reaffirm commitment to market stability - Shana](https://feedsoft.ai/events/19613-opec-states-adjust-production-reaffirm-commitment-to-market-stability-shana.md) | -13.2% | -7.5% |
| WTI | 2018-03-09 | [Opec+ reaffirms commitment to market stability](https://feedsoft.ai/events/65931-opec-reaffirms-commitment-to-market-stability.md) | +1.7% | +3.2% |
| WTI | 2024-01-04 | [OPEC reaffirms commitment to market stability, convenes first ministerial meeting of 2024](https://feedsoft.ai/events/32036-opec-reaffirms-commitment-to-market-stability-convenes-first-ministerial.md) | -1.9% | +1.8% |
| WTI | 2018-05-30 | [Saudi Arabia, OPEC and non-OPEC producers to continue cooperation until end of 2018 - Reuters — Octa](https://feedsoft.ai/events/64940-saudi-arabia-opec-and-non-opec-producers-to-continue-cooperation-until-end-of.md) | -1.9% | +10.3% |
| WTI | 2021-02-19 | [Saudi Arabia and Russia at odds before crucial OPEC meeting](https://feedsoft.ai/events/48552-saudi-arabia-and-russia-at-odds-before-crucial-opec-meeting.md) | +5.0% | -0.8% |
| BRENT | 2026-04-05 | [OPEC+ states adjust production, reaffirm commitment to market stability - Shana](https://feedsoft.ai/events/19613-opec-states-adjust-production-reaffirm-commitment-to-market-stability-shana.md) | -9.7% | -4.1% |
| BRENT | 2018-03-09 | [Opec+ reaffirms commitment to market stability](https://feedsoft.ai/events/65931-opec-reaffirms-commitment-to-market-stability.md) | +1.0% | +4.8% |
| BRENT | 2024-01-04 | [OPEC reaffirms commitment to market stability, convenes first ministerial meeting of 2024](https://feedsoft.ai/events/32036-opec-reaffirms-commitment-to-market-stability-convenes-first-ministerial.md) | -0.1% | +6.0% |

## Sources

- spa.gov.sa: https://www.spa.gov.sa/en/N2607983

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.