OPEC+ Nations Agree to Increase Oil Production by 188,000 bpd in September 2026

MOSCOW, August 2. /TASS/. The seven OPEC+ nations, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, have agreed to increase daily oil production in September by 188,000 (on August), OPEC said after their meeting.

"In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day from the additional voluntary adjustments announced in April 2023. This adjustment will be implemented in September 2026," it said. "The seven OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation."

Apart from that, they agreed to compensate for the overproduced volume until the end of 2026. "They also confirmed their intention to fully compensate for any overproduced volume since January 2024," OPEC said.

As follows from the OPEC table, Russia’s quota in September 2026 will be increased by 62,000 barrels a day to 9.949 mln barrels a day, Saudi Arabia’s - by 62,000 barrels a day to 10.478 mln barrels a day, Iraq’s - by 26,000 barrels a day to 4.431 mln barrels a day, Kuwait’s - by 16,000 barrels a day to 2.676 mln barrels a day, Kazakhstan’s - by 10,000 barrels a day to 1.628 mln barrels a day, Algeria’s - by 6,000 barrels a day to 1.007 mln barrels a day, and Oman’s - by 5,000 barrels a day to 841,000 barrels a day.

The next OPEC+ meeting will be held on September 6.