‎OPEC+ agrees to 188,000 bpd output hike in September

‎<p><img src="https://argaamplus.s3.amazonaws.com/039b8d18-17f4-40e1-9430-7154c24aec1e.png" ></p> <p class="ckeCaption" >Logo of OPEC</p> <hr> <p >The seven OPEC+ countries, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, decided to implement a production adjustment of 188,000 barrels per day (bpd) from the additional voluntary adjustments announced in April 2023. This adjustment will be implemented in September 2026.</p> <p ></p> <p >This came during a meeting held virtually on Aug. 2 to review global market conditions and outlook, according to a statement by the Ministry of Energy.</p> <p ></p> <p >The seven OPEC+ countries noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. They reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee.</p> <p ></p> <p >They also confirmed their intention to fully compensate for any overproduced volume since January 2024.</p> <p ></p> <p >The seven OPEC+ countries will continue to hold monthly meetings to review market conditions. The next meeting will be held on Sept. 6, 2026.</p> <p ></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="3" > <p ><strong><span ><span ><span >September 2026 Required Production (‘000 bpd)</span></span></span></strong></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Country</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Production Increments</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Required Production</span></span></span></strong></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Saudi Arabia</span></span></span></strong></p> </td> <td > <p align="center" ><span ><span ><span >62</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >10478</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Russia</span></span></span></strong></p> </td> <td > <p align="center" ><span ><span ><span >62</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >9949</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Iraq</span></span></span></strong></p> </td> <td > <p align="center" ><span ><span ><span >26</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >4431</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Kuwait</span></span></span></strong></p> </td> <td > <p align="center" ><span ><span ><span >16</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >2676</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Kazakhstan</span></span></span></strong></p> </td> <td > <p align="center" ><span ><span ><span >10</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >1628</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Algeria</span></span></span></strong></p> </td> <td > <p align="center" ><span ><span ><span >6</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >1007</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Oman</span></span></span></strong></p> </td> <td > <p align="center" ><span ><span ><span >5</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >841</span></span></span></p> </td> </tr> </tbody> </table> <div ></div>

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Argaam - Main News · Trade Publication

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2nd August 2026

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