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OPEC Plus Plans 188K BPD Production Boost in September
OPEC+ has agreed to increase oil production by 188,000 barrels per day starting from September 2026, with the coalition suspending this increase during the fourth quarter of the same year. Following the announcement, oil prices are heading towards a slight decline. This increase is expected to help ease market balance and reduce the current cuts of up to two million barrels per day, while these cuts will remain in effect after September until the new supply distribution is determined. The decision comes amid complex negotiations regarding each member's share and concerns over market impacts on prices and economic stability.
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