OPEC reports global oil output rise in June amid varied producer changes

The Organization of the Petroleum Exporting Countries (OPEC) said its total crude output rebounded in June to about 22 million barrels per day (bpd), an increase of roughly 3.05 million bpd from May. The United Arab Emirates, which left OPEC in May, posted the biggest monthly jump, raising production by 1.64 million bpd to around 3.8 million bpd – an 80 % rise. Nigeria’s upstream regulator reported an average of 1.56 million bpd of crude in June, exceeding its OPEC quota by 4 % and marking the highest monthly average since April 2020. Venezuelan production, according to OPEC’s primary data, rose modestly to 1.187 million bpd, a 0.67 % gain over May, while secondary sources estimate a flat level near 1.07 million bpd. Seven OPEC+ members – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman – agreed on 5 July to cut their collective output by 188 000 bpd starting in August, using the additional voluntary adjustment framework. OPEC also noted that Brazil’s liquid‑fuel output is projected to grow by 340 000 bpd in 2026, with modest revisions for 2027.