The Gulf Cooperation Council countries collectively hold approximately 30 percent of the world’s proven crude oil reserves, making decisions made in Riyadh, Abu Dhabi, Kuwait City, and Doha among the most consequential in global energy markets. Through OPEC+ — the expanded alliance that includes Russia and other non-OPEC producers — GCC nations exercise coordinated influence over global oil supply and pricing that shapes energy costs for every economy on earth.
OPEC+ Production Policy in 2026
OPEC+ (the Organisation of the Petroleum Exporting Countries plus allied producers, primarily Russia) coordinates production levels among 23 member countries to manage global oil supply. Decisions are made through ministerial meetings, typically held in Vienna or virtually, with Saudi Arabia and Russia as the effective co-leaders of the alliance. The GCC members within OPEC+ — Saudi Arabia, UAE, Kuwait, Iraq (an OPEC member though not a GCC member), and Oman — hold substantial combined quota.
In 2025-2026, OPEC+ has navigated a complex balancing act: managing production levels to maintain price stability amid weaker Chinese demand growth, rising US shale output, and the gradual emergence of electric vehicle adoption in key markets. Saudi Arabia’s strategy of defending an oil price floor through voluntary production cuts — even at the cost of market share — reflects the kingdom’s need for fiscal revenues to fund Vision 2030 infrastructure programmes, which require oil prices well above $70 per barrel to achieve budget balance.
Saudi Aramco: The World’s Most Valuable Energy Company
Saudi Aramco, the state oil company of Saudi Arabia, is the world’s largest oil producer and one of the highest-profit companies in human history. Aramco’s crude oil production capacity exceeded 12 million barrels per day as of 2024, with the company targeting sustained capacity around that level. Aramco’s Ghawar field — the world’s largest onshore oil field — has been producing since 1951 and continues to produce over 3.8 million barrels per day, more than most OPEC member countries produce in total.
Aramco’s downstream and chemicals expansion — through acquisitions including a strategic stake in Sabic and the Motiva refining joint venture in the US — demonstrates a strategy of capturing value across the entire oil and chemicals chain rather than relying solely on upstream production revenue.
ADNOC: Abu Dhabi’s Energy Champion
Abu Dhabi National Oil Company (ADNOC) manages Abu Dhabi’s oil and gas resources across exploration, production, refining, distribution, and petrochemicals. Abu Dhabi holds approximately 6 percent of the world’s proven oil reserves — the sixth-largest national reserve globally. ADNOC’s production capacity is targeted at 5 million barrels per day, up from approximately 4 million in 2023, reflecting Abu Dhabi’s strategy of monetising its hydrocarbons while market conditions allow.
ADNOC’s transformation under CEO Sultan Al Jaber has included partial privatisation of subsidiaries (ADNOC Drilling, ADNOC Logistics), aggressive international deal-making, and a stated Net Zero by 2045 commitment. ADNOC is simultaneously one of the world’s most active oil investors and one of the Gulf’s most prominent energy transition pledgers — a position that reflects the complex political economy of hydrocarbon-dependent states managing a carefully hedged transition.
Kuwait and Oman
Kuwait Petroleum Corporation manages Kuwait’s oil sector, with production around 2.7 million barrels per day. Kuwait’s oil reserves, though large, are more geologically mature than Saudi Arabia’s, creating challenges in sustaining production levels. Oman, not an OPEC member but an OPEC+ participant, produces approximately 1.1 million barrels per day and has more actively pursued enhanced oil recovery and gas development given its more limited hydrocarbon base relative to its Gulf neighbours.
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See also: GCC Economic Diversification 2026, UAE Renewable Energy 2026, and GCC Economy 2026 Outlook.
Frequently Asked Questions
Which GCC country produces the most oil?
Saudi Arabia is the largest oil producer among GCC nations, with Saudi Aramco’s production capacity exceeding 12 million barrels per day. The UAE (through ADNOC) is the second largest GCC producer at approximately 4-5 million barrels per day. Kuwait and Oman produce around 2.7 million and 1.1 million barrels per day respectively, while Bahrain and Qatar have smaller oil production but significant gas production.
What is OPEC+ and how does it differ from OPEC?
OPEC (Organisation of the Petroleum Exporting Countries) is a multilateral organisation of major oil-exporting nations, formed in 1960. OPEC+ is an expanded alliance formed in 2016 that includes OPEC’s members plus other major producers — primarily Russia, but also Kazakhstan, Mexico, Oman, and others. The OPEC+ framework emerged from a 2016 production cooperation agreement and has since become the primary vehicle for coordinated production management. Not all GCC nations are OPEC members: Bahrain and Oman are not in OPEC but participate in OPEC+.
Also Read: Gulf Petrochemicals 2026: SABIC, Borouge, Qatar Fertilisers and Downstream Energy | Qatar LNG and Gulf Gas 2026: North Field Expansion and Global Energy Markets | Cricket in the GCC: How Gulf Nations are Making Their Mark in International Cricket
