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عين ليبيا
Oil markets shift amid OPEC output rise
The OPEC+ alliance increased its oil production in July 2026 by 1.42 million barrels per day, reaching an average of 37.66 million barrels per day. This was concurrent with an adjustment to its forecast for U.S. oil production in 2026, raising the estimate by approximately 20,000 barrels per day to 13.44 million barrels daily, while expecting U.S. liquid hydrocarbon production to rise by 350,000 barrels per day to 22.6 million barrels daily. Additionally, the coalition decided to raise the maximum production limit by 188,000 barrels per day starting in September 2026, with adjustments to the production levels of Russia and Saudi Arabia. Meanwhile, OPEC lowered its global oil demand growth outlook for 2026 to 580,000 barrels per day, amid ongoing geopolitical tensions and their impact on the global oil market.
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