OPEC+ Set to Boost Oil Production by 188,000 Barrels per Day in September
OPEC+ plans to increase its production quota by around 188,000 barrels per day (bpd) in September, marking a significant step towards unwinding voluntary cuts. The seven core members of OPEC+, including Saudi Arabia and Russia, have been gradually increasing monthly quotas for most of this year.
However, the increases have largely remained on paper due to disruptions caused by the Iran and Ukraine wars, which have impacted exports from several member countries.
After September, OPEC+ is expected to pause further output increases for the rest of the year as it completes a review of members' oil production capacity. This review will inform new production quotas for 2027 and help distribute additional supply among members.
The pause after September would leave approximately two million bpd of OPEC+ cuts dating back to 2022 in place, pending further adjustments.