OPEC Approves September Oil Output Hike as Supply Disruptions Persist

OPEC has approved an increase in oil production quotas of around 188,000 barrels per day (bpd) for September. This decision was made by the group's core production management members, Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman.

The increase completes the rollback of the 1.65 million bpd voluntary production cut agreed in 2023, when the United Arab Emirates (UAE) was still part of the production management arrangement. The UAE exited OPEC in May this year, leaving the seven core producers to oversee monthly output decisions.

Ahead of the meeting, OPEC delegates had indicated that the group might pause further production increases during the fourth quarter of 2026. However, the official statement issued after the meeting made no mention of production plans for the final three months of the year, leaving the group's next policy direction uncertain.