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OPEC+ increases production quotas for August

World News

05-07-2026 | 06:56

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OPEC+ increases production quotas for August

OPEC+ ministers decided Sunday to increase oil quotas by a total of 188,000 barrels per day for August, a similar increase to others agreed in recent months, the organisation announced.

Ministers from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman held virtual talks and "decided to implement a production adjustment of 188 thousand barrels per day," an OPEC statement said, adding that "this adjustment will be implemented in August 2026".

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