OPEC+ Raises Oil Production for Fourth Consecutive Month Amid Global Energy Uncertainty

OPEC+, the alliance of oil-producing countries led by Saudi Arabia and Russia, has agreed to raise oil production for the fourth consecutive month in a row. The decision was made during a virtual meeting of key producing countries, which resulted in an increase of 188,000 barrels per day (bpd) for September.

This move completes the alliance's phased reversal of voluntary production cuts introduced in 2023, bringing back approximately 1.65 million bpd of lost output. However, broader production cuts of about 2 million bpd, agreed under a separate OPEC+ framework in 2022, will remain in place until the end of 2026.

The decision reflects ongoing uncertainty in global energy markets, where regional conflicts, shipping disruptions, and economic growth concerns continue to influence oil demand and price expectations. Analysts believe that OPEC+ may now adopt a wait-and-see approach as it evaluates demand growth, inventories, and geopolitical developments before determining October production levels.