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Commodities

OPEC+ Boosts Oil Production Amid Middle East Conflict

Guavy AI Editorial Team
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Oil
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OPEC+, comprising Saudi Arabia and Russia among others, has agreed to boost oil production by 188,000 barrels per day in September. This decision was made during an online meeting on August 2, 2026. The increase is seen as a response to disruptions caused by the Middle East war.

The seven participating countries issued a joint statement announcing the production adjustment. Analysts had widely expected this move. No further details were provided in the statement.

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