OPEC raises daily oil output to 188,000 barrels

The OPEC+ alliance announced a decision to allow seven countries to increase their oil production by 188,000 barrels per day in August, as part of efforts to regulate the global oil market. The decision included increases in Saudi Arabia's production to 10.416 million barrels per day and Russia's to 9.887 million barrels per day, along with Kuwait, Iraq, Oman, Kazakhstan, and Algeria. The participating countries will hold their next meeting on August 2 to review supply and demand levels, in line with the alliance's policy to achieve a balance in the oil market amid global economic fluctuations and energy price volatility.