OPEC+ Set to Raise Oil Output by 188,000 Barrels per Day in September

OPEC+ is set to raise oil production in September by around 188,000 barrels per day before pausing further increases for the rest of the year. This decision will be made on Sunday as the alliance completes its plan to unwind voluntary production cuts agreed upon in 2023.

The seven core members involved in the quota increases have raised monthly production targets for much of 2026, but actual output increases have generally lagged behind due to disruptions caused by wars in Iran and Ukraine. These disturbances affected exports from Gulf producers as well as Russia and Kazakhstan.

OPEC+ is reviewing its members' production capacity to establish new output baselines for 2027, which will determine how production quotas are distributed among members. This could lead to difficulties in the next phase of the plan, with some members pushing for higher individual quotas. Iraq, for instance, is seeking a larger production allowance based on increased capacity.