OPEC+ Boosts Oil Output
6 articles from 4 countries
OPEC+ members, including Saudi Arabia and Russia, agreed to increase oil production quotas by 188,000 barrels per day starting in August 2026. This marks the fifth consecutive monthly increase for the alliance. Kuwait defended the producer coordination, emphasizing its importance in navigating evolving energy markets.
OPEC+ to Increase Oil Production for Fifth Consecutive Time
- OPEC+ will increase oil production for the fifth consecutive time, adding 188,000 barrels per day. - This decision follows attacks by Israel and the United States on Iran, which disrupted the oil market and damaged energy facilities. - Despite recent market volatility and a peak of over $126 per barrel in April, oil prices have decreased, with Brent crude settling at $72.12 on Friday.
Kuwait defends producer coordination after OPEC+ output increase
- Kuwait's Oil Minister emphasized the importance of coordination among oil producers to navigate evolving energy markets. - The OPEC+ alliance agreed to increase oil production by 188,000 barrels per…
OPEC+ raises quotas again as Middle East calms
- Seven OPEC+ members, including Saudi Arabia and Russia, agreed to increase oil production quotas by 188,000 barrels per day starting in August 2026. - The decision comes as Gulf countries experience…
OPEC+ Raises Production Quotas
- OPEC+ decided to increase oil production quotas by 188,000 barrels per day starting in August 2026. - This decision comes as Gulf states recover from the impact of the Middle East war, which had pre…
OPEC+ to raise oil output by 188,000 barrels daily in August
- OPEC+ agreed to increase oil production by 188,000 barrels per day in August. - This marks the fifth consecutive monthly increase, continuing a gradual reversal of voluntary cuts made in 2023. - The…
OPEC+ raises quotas again as Middle East calms
- Seven OPEC+ members, including Saudi Arabia and Russia, agreed to increase oil production quotas by 188,000 barrels per day for August 2026. - The decision follows the easing of tensions and reopeni…
