OPEC+ Agrees to Raise Oil Output by 188,000 bpd in September
OPEC+ will increase production quotas by 188,000 barrels per day for September, with major members tweaking output and reaffirming market stability commitments.
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The OPEC+ alliance has decided to lift collective oil production by 188,000 barrels per day in September. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman all adjusted their output baselines and reiterated pledges to maintain market stability.
The statement did not detail any policy framework for the period beyond September 2026. The group’s next ministerial meeting is set for September 6.
Oil market participants will watch for further signals on medium-term supply management as the current agreement’s horizon remains limited.
Source: First Squawk