OPEC+
OPEC+ Output Cuts: Navigating the Complex Landscape of Global Oil Production
As of May 2025, the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, have implemented a series of oil output cuts totaling approximately 5.3 million barrels per day (bpd), which accounts for about 5% of global demand. These cuts are structured in three layers.