New Delhi, April 6 -- Russia and Saudi Arabia will provide more than 60 per cent of the total production increments scheduled for May 2026, leading a collective move by eight OPEC+ nations to adjust voluntary output levels.

According to an Organization of the Petroleum Exporting Countries press release, the participating countries decided to implement a total production adjustment of 206 thousand barrels per day (kbd). The decision followed a virtual meeting of Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, held on April 5 to review global market conditions.

"In their collective commitment to support oil market stability, the eight participating countries decided to implement a production adjustment of 206 thous...