OPEC Oil Output Soars to 19.85 Million Barrels in July

OPEC's oil production rose by 1.17 million barrels per day in July to 19.85 million barrels, marking a significant recovery from recent lows.

The increase was mainly driven by Gulf producers who managed to restore supplies disrupted due to regional tensions and complications related to the Strait of Hormuz.

Iraq and Kuwait were the primary contributors to this rise, registering the most significant production increases within OPEC. Iran also boosted its export levels despite periodic shipping constraints.

Saudi Arabia saw a slight decrease in supply levels during the month, but this is part of a smaller OPEC membership as the United Arab Emirates exited the group on May 1, 2026.