OPEC+ Approves September Oil Production Hike Amid Export Disruptions

OPEC+ has approved an increase in oil production quotas of around 188,000 barrels per day from September. This move marks the completion of a phased rollback of a 1.65 million bpd supply cut originally agreed in 2023.

The quota increase is unlikely to have much impact on the market due to export disruptions caused by the Iran and Ukraine wars, which have limited the effectiveness of previous monthly hikes.

Jorge Leon, an analyst at Rystad, said OPEC+ has finished unwinding its voluntary cuts. The next challenge for the group will be managing any surplus that emerges as export flows normalize.

OPEC+ is now set to pause output increases for the fourth quarter of 2026, although this decision has not yet been formally announced.