OPEC+ Countries Boost Oil Production Targets by 188k Barrels in September

OPEC+ countries have agreed to increase their oil production targets by 188,000 barrels per day in September 2026. The seven countries involved are Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman.

The decision was made as part of collective commitments to support the stability of the global oil market. This increase will be part of the additional voluntary adjustments announced by member countries back in April 2023.

The production volumes will rise by 188,000 barrels per day in September. OPEC noted that this step will allow member countries to accelerate the process of offsetting previous overproduction.