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OPEC+ Plans 188K Barrel Daily Production Rise
The OPEC Plus group, led by Saudi Arabia, has decided to increase oil production by 188,000 barrels per day in July 2026, aiming to support the stability of the oil market. The increase includes an additional 62,000 barrels per day from Saudi Arabia, bringing its total to 10.353 million barrels, along with specific production increases from Russia, Iraq, Algeria, Kuwait, Kazakhstan, and Oman. The countries will monitor compliance with these adjustments and work to compensate for any excess production since January 2024 through the end of 2026. Monthly meetings will continue to oversee these adjustments.
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