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OPEC+ to raise daily oil output
The OPEC+ countries, including Saudi Arabia and Russia, announced an increase in oil production by 188,000 barrels per day starting from September 2026, in order to support global oil market stability. This announcement was made during a video conference meeting to review the current state and outlook of the oil market, where the countries reaffirmed their commitment to compensate for the excess production since January 2024 and to monitor compliance through the Ministerial Monitoring Committee. The countries will hold monthly meetings to follow market developments, with the latest scheduled for September 6, 2026, to make the necessary decisions.
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