OPEC+ Nations Announce 547,000 Barrel Production Increase for September
Eight OPEC+ countries announced they will implement a production adjustment of 547,000 barrels per day in September, continuing their gradual return of voluntary production cuts. Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman made the decision following a virtual meeting on August 3 to review global market conditions.
The production increase represents four monthly increments in the group’s flexible approach to unwinding their 2.2 million barrel per day voluntary adjustments that began on April 1, 2025. The countries emphasized that the phase-out may be paused or reversed based on evolving market conditions, providing flexibility to support oil market stability.
According to the accompanying production table, September targets include 9.978 million barrels per day for Saudi Arabia, 9.449 million for Russia, and 4.220 million for Iraq. The eight countries confirmed their commitment to compensate for any overproduced volumes since January 2024 and will hold monthly meetings to monitor market conditions and compliance.
Energy analysts note this measured approach differs from OPEC+’s previous shock tactics against U.S. shale producers, instead applying continuous, gradually increasing pressure to reclaim market share.
Source: rigzone.com
