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

> Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman announced production adjustments and reaffirmed their commitment to market stability. The statement came after the group's monthly meeting.

- Date: 2026-03-01 · published 2026-03-01T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/20078-saudi-arabia-russia-iraq-uae-kuwait-kazakhstan-algeria-and-oman-adjust
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A coordinated output increase adds supply at the margin, which is mildly bearish for crude. Its effect is limited while Gulf export routes are disrupted.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-05-03 | [Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on current healthy oil market fundamentals and adjust production upward](https://feedsoft.ai/events/24601-saudi-arabia-russia-iraq-uae-kuwait-kazakhstan-algeria-and-oman-reaffirm.md) | +4.3% | +6.8% |
| BRENT | 2025-10-05 | [Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on current healthy oil market fundamentals and steady global economic outlook and adjust production](https://feedsoft.ai/events/22301-saudi-arabia-russia-iraq-uae-kuwait-kazakhstan-algeria-and-oman-reaffirm.md) | -2.7% | -0.1% |
| BRENT | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -3.5% | -5.4% |
| BRENT | 2025-03-04 | [OPEC+ to gradually increase production amid market volatility \| Oil & Gas Journal](https://feedsoft.ai/events/25491-opec-to-gradually-increase-production-amid-market-volatility-oil-and-gas-journal.md) | -2.8% | +5.2% |
| BRENT | 2018-06-23 | [OPEC deal to raise oil production will 'rein in prices' - Algerian PM](https://feedsoft.ai/events/64448-opec-deal-to-raise-oil-production-will-rein-in-prices-algerian-pm.md) | +5.1% | -2.8% |
| WTI | 2025-05-03 | [Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on current healthy oil market fundamentals and adjust production upward](https://feedsoft.ai/events/24601-saudi-arabia-russia-iraq-uae-kuwait-kazakhstan-algeria-and-oman-reaffirm.md) | +4.6% | +6.4% |
| WTI | 2025-10-05 | [Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on current healthy oil market fundamentals and steady global economic outlook and adjust production](https://feedsoft.ai/events/22301-saudi-arabia-russia-iraq-uae-kuwait-kazakhstan-algeria-and-oman-reaffirm.md) | -3.1% | +0.2% |
| WTI | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -7.0% | -2.7% |

## Sources

- spa.gov.sa: https://www.spa.gov.sa/en/w2525497

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