OPEC+ Countries Have Agreed To Increase Oil Production Quotas For September

• 2.08.2026, 16:52

188,000 barrels per day.

Following their meeting, the OPEC+ countries (Russia, Saudi Arabia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman) agreed to increase oil production by 188,000 barrels per day in September. This was reported on the organization’s website.

“As part of joint efforts to maintain stability in the oil market, the seven member countries decided to adjust production levels by 188,000 barrels per day through additional voluntary cuts announced in April 2023,” the statement reads.

Saudi Arabia and Russia will be able to increase production in September by 62,000 barrels per day—to 10.478 million barrels per day and 9.949 million barrels per day, respectively. Iraq will be able to increase production by 26,000 barrels per day, to 4.431 million barrels per day; Kuwait—by 16,000 barrels per day, to 2.676 million barrels per day; Kazakhstan—by 10,000 barrels per day, to 1.628 million barrels per day; Algeria—by 6,000 barrels per day, to 1.007 million barrels per day; Oman — by 5,000 barrels per day, to 841,000 barrels per day.

Seven OPEC+ countries confirmed their intention to offset any excess oil production starting in January 2024, according to the statement.

The next meeting will take place on September 6, 2026.