OPEC+ Countries Fall Short of Quota, Produce 34.53 Million Barrels Per Day

OPEC+ countries collectively produced oil at a rate of 34.53 million barrels per day in July, according to the International Energy Agency (IEA) report.

This figure represents an increase of 1.52 million barrels per day compared to June, but still falls short of their combined quota by 6.02 million barrels per day.

The total oil production of OPEC+ countries, excluding Mexico, Iran, Libya, and Venezuela, reached 28.06 million barrels per day in July.