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Seven core OPEC+ members agree to raise crude oil production by 188,000 barrels per day for September 2026, completing the rollback of the 1.65 million bpd voluntary cuts introduced in April 2023. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman take part, while the UAE is absent after leaving OPEC in 2026. The group keeps deeper 2022 baseline cuts in place until the end of 2026. Analysts expect a fourth-quarter pause as markets absorb new supply, while 2027 quota disputes begin building.
Sunday, 2 August, 2026