OPEC+ Increases September Oil Production Quotas by 188k Barrels Per Day

OPEC+ has agreed to increase September oil production by 188,000 barrels per day for select members. This move aims to stabilize the market after previous voluntary cuts.

The increase applies to seven countries that had been making additional voluntary cuts: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.

OPEC+ framed this adjustment as a response to earlier voluntary reductions rather than a broad shift in all members' quotas. The group stated the step is meant to support market stability while allowing participating countries to compensate for prior overproduction.