Commodities

OPEC Crude Oil Production Hits New High in August

Guavy AI Editorial Team Published September 13, 2026

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Oil

According to OPEC's August update, total crude oil production from member countries averaged 24,081 million barrels per day (mb/d) in August 2026. This marks a significant increase of 346 thousand barrels per day compared to the previous month.

The report indicates that this is the first time since March 2023 that OPEC's total crude oil production has exceeded 24 mb/d, which could have implications for global oil markets and prices.

The Wire

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