OPEC+ decides to hike output once again
Seven members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have collectively agreed to increase oil output by 188,000 b/d in September.
IMAGE: OPEC headquarters in Vienna. Getty Images
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman have decided to increase production by 188,000 b/d in September, unwinding part of the 1.65 million b/d in additional voluntary production cuts announced in April 2023, the group said in a statement.
In November 2025, the members decided to pause production hikes in the first quarter of this year, citing steady market conditions. This temporary freeze has followed consecutive output increases in recent months, as the group seeks to recapture market share.
The output hike decision comes amid the ongoing Middle East conflict which has led to repeated strikes on energy infrastructure across the region.
The seven OPEC+ countries “confirmed their intention to fully compensate for any overproduced volume since January 2024,” the Saudi Arabia-led group has reiterated.
The group’s two leading producers, Saudi Arabia and Russia, are set to ramp up production by an additional 62,000 b/d each, to produce about 10.5 million b/d and 9.9 million b/d of crude oil in September, respectively.
Iraq is expected to hike production by 26,000 b/d to about 4.4 million b/d next month.
The seven OPEC+ members will next meet on 6 September 2026 to “to review market conditions.”
By Aparupa Mazumder
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