Eight OPEC+ countries will decide on their oil production plan for December at an online meeting today.

Axar.az informs that TASS reported on this.

It was reported that the meeting will begin at 18:00 Baku time. OPEC+ countries are expected to increase production by another 137 thousand barrels at the meeting.

It should be noted that since the beginning of 2024, eight OPEC+ countries - Russia, Saudi Arabia, Iraq, the UAE, Kazakhstan, Algeria, Oman, and Kuwait - have voluntarily reduced their oil production by 2.2 million barrels per day. However, these countries began to increase production from April 2025 gradually, and in September, a year earlier than planned, these reductions were completely canceled.

In October, they agreed to increase production by another 137 thousand barrels. The same decision has now been made for November.