OPEC+

2 months agoNews Editor

OPEC+ agrees to raise September oil output quota by 188,000 barrels per day

OPEC+ has agreed to increase its oil production quota for September by 188,000 barrels per day, according to a statement cited by Odaily. The adjustment was backed by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, which also reaffirmed their commitment to maintaining market stability. The group said its next meeting is scheduled for Sept. 6. The update centers on production policy and does not include additional guidance beyond the statement. For markets tracking commodity supply decisions, the announcement sets the formal quota change for September while keeping the group’s broader stability message intact.