OPEC Oil Production Bounces Back in July Amid Gulf Producers' Surge

OPEC's oil production has made a significant recovery in July, according to a Reuters survey published on August 10. The group's 11 remaining members pumped a combined 19.85 million barrels per day, up 1.17 million bpd from June.

The bulk of the gains came from Gulf producers resuming supplies that had been disrupted by the ongoing conflict and blockade of the Strait of Hormuz earlier in 2026. Iraq was the standout performer, logging the largest single-country production increase within OPEC during the month.

However, Iran's oil exports remain about a quarter below pre-war levels due to US-imposed restrictions on port activities connected to Iranian oil shipments.