Riyadh: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman are taking coordinated steps to adjust oil production levels to maintain market stability. The seven member countries of the OPEC Plus group, which includes these nations, convened via video conference to discuss the latest developments in the oil market and its future prospects. According to Union of OIC News Agencies, these countries had previously announced additional voluntary adjustments in April and November of 2023. They have now decided to implement a new adjustment to production levels, reducing output by 188 barrels per day from the total additional voluntary adjustments announced earlier. This adjustment is set to take effect in September 2026. The OPEC+ group emphasized that this measure will enable participating countries to accelerate the compensation process. They reaffirmed their commitment to the Declaration of Cooperation, which includes additional voluntary adjustments, and stated that compliance will be monitored b y the Joint Ministerial Monitoring Committee. The member countries also confirmed their intention to fully compensate for any excess production volumes since January 2024. The group plans to continue holding monthly meetings to monitor market developments, with the next meeting scheduled for September 6, 2026.