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Seven leading OPEC+ countries that have been adhering to voluntary oil production cuts have decided to increase output in September by 188,000 barrels per day (bpd) compared to August levels, according to a statement from the organization.
As a result, Russia's oil production quota for September 2026 will rise by 62,000 bpd to 9.949 million bpd; Saudi Arabia's by 62,000 bpd to 10.478 million bpd; Iraq's by 26,000 bpd to 4.431 million bpd; Kuwait's by 16,000 bpd to 2.676 million bpd; Kazakhstan's by 10,000 bpd to 1.628 million bpd; Algeria's by 6,000 bpd to 1.007 million bpd; and Oman's by 5,000 bpd to 841,000 bpd.
The group will also continue to hold monthly meetings to assess market conditions, with the next meeting scheduled for September 6.
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What happened before
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Voluntary oil production cuts by seven OPEC+ countries were in effect
Seven OPEC+ countries increase oil production by 188,000 bpd from August levels
Russia's oil production quota increases by 62,000 bpd to 9.949 million bpd