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[BUSINESS] · Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan · 95 sources

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OPEC+ agrees to raise oil output by 188,000 barrels per day in September

Seven OPEC+ members – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman – held a virtual meeting on 2 August 2026 and decided to increase their collective oil production by 188,000 barrels per day starting in September 2026. The increase completes the unwinding of the 1.65 million‑bpd voluntary cut package introduced in April 2023. Country‑specific hikes are: Saudi Arabia +62,000 bpd, Russia +62,000 bpd, Iraq +26,000 bpd, Kuwait +16,000 bpd, Kazakhstan +10,000 bpd, Algeria +6,000 bpd and Oman +5,000 bpd. The next OPEC+ meeting is scheduled for 6 September 2026. After the September adjustment, the group plans to pause further output increases for the remainder of the year, leaving roughly 2 million bpd of cuts in place. Some members, notably Iraq, have urged higher individual quotas.

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Iraq · Iraq · Kazakhstan · Kuwait · Kuwait · OPEC+ · Russia · Russia · Saudi Arabia · Saudi Arabia · Strait of Hormuz

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