OPEC+ Slows Oil Production Ramp-Up with Measured 188,000 Bpd Boost

OPEC+, a cartel of oil-producing nations, has agreed to boost production by 188,000 barrels per day starting in September. This marks another step in their slow unwinding of massive production cuts imposed in late 2023.

The seven countries involved, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, collectively cut back production by 2.2 million barrels per day last year. The group has been gradually increasing output since April 2025, with the latest increase being a measured move in this direction.

The decision was made at meetings held in July, with OPEC+ reserving the right to halt or reverse the increases if market conditions worsen. Energy traders are looking ahead to what happens next, as the September increase is largely priced in and the pace of unwinding remains uncertain.