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    OPEC+

    Also known as OPEC Plus, Declaration of Cooperation, DoC, OPEC and non-OPEC producers

    OPEC+ is the group of OPEC members and ten other oil producers, including Russia, Kazakhstan and Oman, that coordinate output under the Declaration of Cooperation.[1] In 2026 the United Arab Emirates left OPEC effective 1 May,[2] and on 4 October seven OPEC+ countries kept November production targets unchanged.[3]

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    Key facts

    OPEC+ is the informal name for the countries taking part in the Declaration of Cooperation (DoC). The DoC brings together the members of the Organization of the Petroleum Exporting Countries (OPEC) and ten other producers that coordinate oil output.[1] EIA says OPEC can significantly influence oil prices by setting production targets.[4] This page is general information, not financial advice.

    Members

    OPEC’s 2026 Annual Statistical Bulletin, which covers data to the end of 2025, lists 12 member countries. They are Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.[5] Iran, Iraq, Kuwait, Saudi Arabia and Venezuela have been members since 1960.[6] The DoC adds Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan and Sudan.[1] OPEC put its members’ proven crude reserves at 1,243 billion barrels at the end of 2025, out of 1,572 billion worldwide.[7]

    The UAE announced its departure from OPEC effective 1 May 2026. Because the UAE held spare production capacity, EIA cut its forecast of OPEC spare capacity in 2027 from 3.8 to 2.5 million barrels per day.[2] OPEC+ press releases after that date list seven countries in the voluntary-cut group instead of eight, without the UAE.[8]

    How OPEC+ influences prices

    Compliance with OPEC targets is mixed, EIA notes, because each member makes its own production decisions.[4] EIA says OPEC members hold the world’s spare crude production capacity: output that can be brought online within 30 days and sustained for 90 days. EIA treats that spare capacity as a sign of how well the market can absorb supply disruptions.[9] When spare capacity and inventories are low, the threat of a disruption can move prices more than current supply and demand alone would suggest.[10]

    Decisions in 2026

    On 1 March 2026, the day after the Middle East conflict began, eight OPEC+ countries agreed to resume unwinding 1.65 million barrels per day of voluntary cuts from April 2023. The eight were Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman, and they set an increase of 206,000 barrels per day for April.[11][12] The conflict soon forced Gulf producers to shut in output that could not be exported through the Strait of Hormuz. EIA estimated 7.5 million barrels per day of shut-ins in March and a peak of 10.9 million in May.[13][14]

    On 5 July the seven remaining countries agreed a further 188,000 barrel-per-day adjustment for August.[8] They say they retain full flexibility to increase, pause or reverse the phase-out.[15] On 4 October they kept November 2026 targets at September levels.[3] The group’s Joint Ministerial Monitoring Committee warned in August and October that attacks on energy infrastructure and disruption of shipping routes increase market volatility.[16] The next committee meeting is set for 29 November 2026.[17]

    OPEC’s view of the market

    OPEC forecasts higher oil demand than EIA or the IEA. In September 2026 OPEC still expected global oil demand to grow by 0.4 million barrels per day in 2026, while EIA and the IEA projected declines.[18][19] The 2026 outlook analysis compares the three forecasts.

    Questions readers ask

    What is the difference between OPEC and OPEC+?

    OPEC is the producers' organization itself; at the end of 2025 OPEC listed 12 members. OPEC+ refers to the countries participating in the Declaration of Cooperation, which adds Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan and Sudan.[5][1]

    Did the UAE leave OPEC?

    Yes. According to EIA, the UAE announced its departure from OPEC effective 1 May 2026, which led EIA to cut its forecast of OPEC spare capacity in 2027.[2]

    What did OPEC+ decide in October 2026?

    On 4 October 2026 Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman decided to keep November 2026 required production at September 2026 levels. Their next meeting is on 1 November.[3]

    Why does OPEC+ matter for oil prices?

    EIA says OPEC sets production targets for its members, though compliance is mixed, and that OPEC spare capacity indicates how well the market can respond to supply disruptions.[4][9]

    Sources

    Each numbered claim is a statement we checked against the sources listed with it. Status shows how well established it is.

    1. [1]

      OPEC lists the countries participating in the Declaration of Cooperation (the group known as OPEC+) as the OPEC members plus Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan and Sudan. confirmedas of 2025-12-31

    2. [2]

      The United Arab Emirates left OPEC effective 1 May 2026; EIA said the exit cut its forecast of OPEC spare capacity in 2027 from 3.8 to 2.5 million barrels per day. confirmedas of 2026-05-31

    3. [3]

      On 4 October 2026 seven OPEC+ countries (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman) decided to keep November 2026 required production at September 2026 levels, with the next meeting on 1 November. confirmedas of 2026-10-04

    4. [4]

      EIA says OPEC can significantly influence oil prices by setting production targets for its members, but compliance is mixed because production decisions rest with individual members. confirmedas of 2026-10-10

    5. [5]

      OPEC's Annual Statistical Bulletin 2026, covering data to the end of 2025, lists 12 member countries, Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. confirmedas of 2025-12-31

    6. [6]

      Iran, Iraq, Kuwait, Saudi Arabia and Venezuela have been OPEC members since 1960, according to OPEC's statistical bulletin. confirmedas of 2025-12-31

    7. [7]

      OPEC put world proven crude oil reserves at 1,572 billion barrels at the end of 2025, with 1,243 billion barrels in OPEC member countries. confirmedas of 2025-12-31

    8. [8]

      On 5 July 2026 seven OPEC+ countries, no longer including the UAE, agreed a 188,000 barrel-per-day production adjustment for August 2026. confirmedas of 2026-07-05

    9. [9]

      EIA says OPEC members maintain the world's spare crude production capacity (output that can be brought online within 30 days and sustained for 90 days) and describes it as an indicator of the market's ability to respond to supply disruptions. confirmedas of 2026-10-10

    10. [10]

      EIA notes that when spare capacity and inventories are low, a potential supply disruption can have a larger price impact than current supply and demand alone suggest. confirmedas of 2026-10-10

    11. [11]

      On 1 March 2026 eight OPEC+ countries, including the UAE, agreed to resume unwinding 1.65 million barrels per day of voluntary cuts from April 2023, with a 206,000 barrel-per-day increase for April 2026. confirmedas of 2026-03-01

    12. [12]

      The Middle East conflict that began on 28 February 2026, involving Iran on one side and the United States and Israel on the other, impeded oil flows through the Strait of Hormuz. confirmedas of 2026-03-20

    13. [13]

      Brent averaged $103 per barrel in March 2026, and EIA estimated that Iraq, Saudi Arabia, Kuwait, the UAE, Qatar and Bahrain shut in 7.5 million barrels per day of crude output that month. confirmedas of 2026-04-07

    14. [14]

      EIA estimates Middle East crude production shut-ins peaked at 10.9 million barrels per day in May 2026, fell to 5.8 million in August and 4.8 million in September. confirmedas of 2026-10-06

    15. [15]

      The OPEC+ countries say they retain full flexibility to increase, pause or reverse the phase-out of voluntary production adjustments. confirmedas of 2026-07-05

    16. [16]

      OPEC+'s Joint Ministerial Monitoring Committee said in August and October 2026 that attacks on energy infrastructure and disruption of maritime routes increase market volatility. confirmedas of 2026-10-04

    17. [17]

      The next (69th) OPEC+ Joint Ministerial Monitoring Committee meeting is scheduled for 29 November 2026. confirmedas of 2026-10-04

    18. [18]

      OPEC's September 2026 Monthly Oil Market Report forecast global oil demand growth of 0.4 million barrels per day in 2026 and 2.4 million in 2027, as summarised by the International Energy Forum. confirmedas of 2026-09-14· forecast

    19. [19]

      The IEF put 2026 demand at 105.8 million barrels per day under OPEC, 102.6 million under EIA and 102.4 million under the IEA, a 3.4 million barrel-per-day gap, with 2027 levels ranging from 105.0 to 108.2 million. confirmedas of 2026-09-14· forecast

    Revision history (1)
    1. Page created.

    Created Oct 10, 2026. Last reviewed by an editor on Oct 10, 2026. Next scheduled review: Nov 15, 2026.

    Cite this page

    "OPEC+." ContentLora, updated Oct 10, 2026. https://contentlora.com/wiki/opec-plus

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