OPEC+ Oil Production Fell by 980,000 BPD in August 2026, IEA Reports

MOSCOW, September 11. /TASS/. Oil production by OPEC+ countries participating in the output reduction agreement fell by 980,000 barrels per day (bpd) in August 2026, which is still significantly behind planned levels, the International Energy Agency (IEA) reported.

The targeted level for OPEC+ countries within the agreement stood at 34.27 mln barrels per day (mbd) in August, while real production reached 27 mbd, according to the report. This brings the volume behind the plan to about 7.26 mbd.

In August, among the seven OPEC+ nations Algeria increased output by 10,000 bpd, production went up by 240,000 bpd in Kuwait, by 980,000 bpd in Iraq, down by 2.27 mbd in Saudi Arabia, and up by 40,000 bpd in Oman, according to the IEA. Russia’s output fell by 200,000 bpd. Meanwhile, Kazakhstan boosted oil production by 340,000 bpd in August.

Production by all OPEC+ countries decreased by 1.46 mbd last month to 33.11 mbd.