Key members of the OPEC+ alliance, including Saudi Arabia and Russia, initiated a substantial increase in oil production earlier this year. This policy adjustment marks a notable departure from their previous strategy of reducing output over several years to support market prices. The decision to hike production to levels described as largely unanticipated reportedly surprised market participants.
Source: https://economictimes.indiatimes.com/news/international/business/how-successful-has-opecs-oil-output-policy-been-in-2025/articleshow/125650474.cms