OPEC Oil Output Rises Sharply in July on Gulf Member Restarts

OPEC oil output rose for the second consecutive month in July, according to a Reuters survey. The increase of 1.17 million barrels per day (bpd) brought the total output to 19.85 million bpd.

The rise was led by Gulf members, who restored supplies that were previously shut due to the Iran war and the effective closure of the Strait of Hormuz. Iraq had the biggest increase, followed by Kuwait, while Iran also boosted exports despite a mid-July slowdown caused by the resumption of a U.S. blockade on Iranian ports.

The survey excluded the United Arab Emirates, which quit OPEC in May. Saudi supply was slightly lower, and Libya pumped more oil, unaffected by the Middle East conflict.