Logo of OPEC
OPEC+ reached a preliminary agreement to increase its oil production target by 188,000 barrels per day (bpd) starting in September, before pausing further output hikes during the fourth quarter, Reuters reported, citing sources. 
An OPEC+ delegate and another source also expected a similar outcome from today’s meeting.
According to Argaam data, the seven OPEC+ member countries previously agreed to implement a production adjustment of 188,000 bpd as part of the additional voluntary production cuts announced in April 2023, with the adjustment scheduled to take effect in August 2026.
Logo of OPEC
OPEC+ reached a preliminary agreement to increase its oil production target by 188,000 barrels per day (bpd) starting in September, before pausing further output hikes during the fourth quarter, Reuters reported, citing sources.
An OPEC+ delegate and another source also expected a similar outcome from today’s meeting.
According to Argaam data, the seven OPEC+ member countries previously agreed to implement a production adjustment of 188,000 bpd as part of the additional voluntary production cuts announced in April 2023, with the adjustment scheduled to take effect in August 2026.
