# 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

> The eight OPEC+ countries met virtually on 3 August 2025 and agreed a production adjustment of 547 thousand barrels per day for September. The group said the phase-out of voluntary cuts may be paused or reversed depending on market conditions.

- Date: 2025-08-03 · published 2025-08-03T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/23229-saudi-arabia-russia-iraq-uae-kuwait-kazakhstan-algeria-and-oman-reaffirm
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A larger OPEC+ output increase raises crude supply and tends to lower oil prices, which feeds into diesel, fertilizer and freight costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-05-03 | [OPEC+ countries, including Saudi Arabia and Russia, to boost oil production \| AP News](https://feedsoft.ai/events/19149-opec-countries-including-saudi-arabia-and-russia-to-boost-oil-production-ap-news.md) | -9.5% | -14.6% |
| BRENT | 2020-03-06 | [Russia-Saudi Oil Alliance Under Pressure as Moscow Rejects Production Cuts - The Moscow Times](https://feedsoft.ai/events/54055-russia-saudi-oil-alliance-under-pressure-as-moscow-rejects-production-cuts-the.md) | -36.6% | -51.4% |
| BRENT | 2020-09-21 | [Oil prices down 4% on expectations for return of Libyan crude production, global stock-market selloff - MarketWatch](https://feedsoft.ai/events/6766-oil-prices-down-4-on-expectations-for-return-of-libyan-crude-production-global.md) | -2.9% | -1.2% |
| BRENT | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +21.9% | -26.3% |
| BRENT | 2019-09-18 | [Oil prices: Saudi Arabia pledges to restore production after drone attacks](https://feedsoft.ai/events/57237-oil-prices-saudi-arabia-pledges-to-restore-production-after-drone-attacks.md) | -2.2% | -9.4% |
| WTI | 2020-03-06 | [Russia-Saudi Oil Alliance Under Pressure as Moscow Rejects Production Cuts - The Moscow Times](https://feedsoft.ai/events/54055-russia-saudi-oil-alliance-under-pressure-as-moscow-rejects-production-cuts-the.md) | -31.3% | -45.0% |
| WTI | 2020-09-21 | [Oil prices down 4% on expectations for return of Libyan crude production, global stock-market selloff - MarketWatch](https://feedsoft.ai/events/6766-oil-prices-down-4-on-expectations-for-return-of-libyan-crude-production-global.md) | -2.4% | -0.8% |
| WTI | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +64.1% | -28.3% |

## Sources

- moenergy.gov.sa: https://www.moenergy.gov.sa/en/media-center/news/saudi-arabia-russia-iraq-uae-kuwait-kazakhstan-algeria-oman-reaffirm-commitment-market-stability

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