Seven OPEC+ members agree to raise August oil output by 188,000 barrels a day
The Facts
- Seven OPEC+ members agreed to increase their combined oil output target by 188,000 barrels a day starting in August.
- The countries involved in the August increase are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
- The August increase is the fifth consecutive monthly output rise agreed by these OPEC+ members.
- OPEC+ said the increase is part of the gradual unwinding of additional voluntary production cuts announced in 2023.
- The decision was made in a virtual or teleconference meeting of the participating countries' ministers.
- The output increase comes as oil prices have fallen back toward levels seen before the Iran war and as supply flows through the Strait of Hormuz recover.
- OPEC+ said the participating countries will continue to monitor market conditions after approving the August increase.
Context
Why are only seven countries named in this decision?
The August adjustment applies to seven OPEC+ countries that had been making additional voluntary cuts and are now gradually returning some of that supply to the market: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman infobae,EL PAÍS.
Why does this matter beyond the oil producers themselves?
Because OPEC+ output targets affect global crude supply, the decision can influence oil prices and, in turn, fuel and energy costs. The increase comes as prices have eased and Gulf export flows recover, so traders are watching whether added supply keeps pressure on prices Investing.com,Yahoo! Finance.
What remains uncertain after the decision?
It is still unclear how market conditions will evolve as U.S.-Iran talks continue and shipping through the Strait of Hormuz remains a focus for traders. OPEC+ said it will keep assessing the market, indicating future output decisions could change if conditions shift Investing.com,EL PAÍS.
Where Left and Right agree, and where they split
- Where Left and Right agree
- A small group of major producers is still materially shaping oil supply as it unwinds voluntary cuts and adjusts output in response to market conditions.
- Where Left and Right split
- Concentrated state power over a basic cost, or producers restoring supply in line with prices and energy security.
How left and right read it
Left says
Seven major oil producers are again adjusting supply in concert, with a fifth straight monthly increase and another step in unwinding voluntary cuts. That matters because it is a reminder of how much power a small group of states still holds over a basic cost that ripples through household budgets and public systems, even as they say they will keep monitoring market conditions.
Right says
A fifth straight monthly increase, tied to the unwinding of voluntary cuts, matters because it shows major producers responding to price signals rather than pretending supply can be managed by wishful politics. With prices back toward pre-war levels and flows through the Strait of Hormuz recovering, this is a reminder that energy security still begins with real production and sober market discipline.
The receipts — 100 sources
Wire services (3)
Independent coverage (97)
cnbctv18.comOil prices could slip below $60 if China holds back on buyin...
Izvestia.ruЭксперт оценил перспективы цен на нефть после решений ОПЕК+
Yahoo! FinanceOPEC+ agrees another modest output rise as oil prices fall b...
Euronews EnglishOPEC+ agrees another modest output rise as oil prices contin...
CNN InternationalThe fight for the future of OPEC begins now
En Son HaberBrent petrolün varili 72,22 dolarda - ensonhaber.com
CNAOil falls after OPEC+ agrees to raise output targets
CNAOil falls by more than 1% after OPEC+ agrees to raise output...
Sözcü GazetesiPetrol fiyatları haftaya karışık seyirde başladı
Корреспондент.netЦены на нефть снизились из-за нового решения ОПЕК+
En Son Haberİran, Hürmüz için yeni hizmet bedeli getirecek - ensonhaber....
���.Ru // �������, �����, �������� ���������� ���, ������-������� ���, ��������� �������WSJ: восстановление нефтяного рынка ослабляет позиции Ирана ...
HaberlerBrent petrolün varili 72,22 dolardan işlem görüyor
NTVPetrol gerilemeye devam ediyor | NTV Haber
ETAuto.comOPEC+ to boost crude output, but can it deliver and who will...
Al Jazeera OnlineOPEC+ countries say they will expand monthly oil production
India TV NewsSeven OPEC+ countries agree to increase monthly oil producti...
The Times of IndiaOil price today: Crude slips after OPEC+ announces raising o...
mintOil prices decline as OPEC+ approves higher output targets; ...
MoneyControlUS-Iran news live: Tehran prepares for Ali Khamenei's funera...
Economic TimesOPEC+ to boost crude output, but can it deliver and who will...
TerraPaíses da Opep+ concordam em expandir produção de petróleo
GoodreturnsOPEC+ oil output increase set for August as seven countries ...
India TodayOPEC+ raises August oil output by 188,000 bpd as Brent stays...
The Times of IndiaMore crude likely in market soon as OPEC+ clears hike of 188...
Zero HedgeOPEC+ Approves Another Oil Output Increase As Hormuz Exports...
Izvestia.ruСемь стран ОПЕК+ договорились увеличить целевые объемы добыч...
Notícias ao MinutoKuwait defende coordenação após aumento da produção da OPEP+
Poder360Opep+ eleva cota de produção de petróleo a partir de agosto
infobaeKuwait defiende coordinación entre productores tras el aumen...
ExcélsiorOPEP elevará producción de petróleo en agosto tras crisis en...
infobaeIrak firma acuerdo con gigante estadounidense Halliburton pa...
ZEIT ONLINEÖlforderländer: Opec+ beschließt höhere Ölproduktion für Aug...
The Times of IndiaOPEC+ agrees fresh August oil output hike as Strait of Hormu...
ExameKuwait defende coordenação da Opep+ após aumento da produção...
ExameOpep+ amplia produção de petróleo após alívio da guerra no O...
ZEIT ONLINEÖlforderländer: Opec+ beschließt höhere Ölproduktion für Aug...
Deutsche WelleСтраны ОПЕК+ продолжат повышать добычу нефти в августе
N-tvPreise auf Vorkriegsniveau: Opec+ dreht die Ölproduktion wei...
ExameOpep+ eleva cotas de produção de petróleo em 188 mil barris ...
Jornal Estado de Minas | Not�cias OnlineOpep+ aumenta cotas de produção após conflitos no Oriente Mé...
news24OPEC+ approves further oil output increase as Hormuz exports...
Der TagesspiegelEnergie: Opec+ will mehr Öl in den Markt pumpen
The New York TimesOPEC Plus Pledges to Pump More Even as Oil Prices Fall
BFMTV90% de ses recettes sont tirées des exportations pétrolières...
Le Figaro.frExploitation pétrolière : l'Irak signe un accord avec le géa...
Московский КомсомолецОПЕК+ разрешила России увеличить нефтедобычу в августе
GMA NetworkOPEC+ set to approve another oil output increase, sources sa...
Life.ruРоссия в рамках ОПЕК+ увеличит добычу нефти на 62 тысячи бар...
mintOPEC agrees in principle on 188k barrels a day hike, delegat...
EL PAÍSLa OPEP+ subirá su oferta de crudo en 188.000 barriles diari...
Yahoo!La OPEP+ subirá su oferta de crudo en 188.000 barriles diari...
РИА НовостиСемерка ОПЕК+ увеличит максимально разрешенный объем нефтедо...
Коммерсант.ruРоссия и Саудовская Аравия увеличат добычу нефти на 62 тыс. ...
The Wall Street JournalOPEC, Allies Hike Output Again as Hormuz Traffic Starts Reco...
20minutesL'Opep + augmente ses quotas de production de pétrole pour l...
La RazónMás estímulos para que el petróleo baje: la OPEP+ aprueba ot...
Аргументы и фактыРоссия увеличит добычу нефти в рамках ОПЕК+
NTVOPEC+ petrol üretim kotalarını artıracak | NTV Haber
Tengrinews.kzКазахстан увеличит добычу нефти - опубликованы новые квоты О...
La Nueva España Digital - LNE.esLa OPEP+ aumentará su oferta de petróleo en agosto por quint...
kp.ruСтраны ОПЕК+ договорились увеличить добычу нефти в августе
LaVanguardiaLa OPEP+ subirá su oferta de crudo en 188.000 barriles diari...
RTVE.esLa OPEP+ acuerda elevar su producción de crudo en 188.000 ba...
BFMTV188.000 barils par jour: après la quasi-paralysie du détroit...
cnbctv18.comOPEC+ set to approve another oil output increase: Report - C...
EL MUNDOLa OPEP+ acuerda elevar su oferta de petróleo en 188.000 bar...
El ConfidencialLa OPEP+ subirá su oferta de crudo en 188.000 barriles diari...
РИА НовостиРоссия сможет увеличить добычу нефти в рамках ОПЕК+
infobaeLa OPEP+ subirá su oferta de crudo en 188.000 barriles diari...
Economic TimesOPEC+ adjusts August production, reaffirms stability commitm...
Interfax.ruСтраны ОПЕК+ увеличили квоты по добыче нефти на август на 18...
Bloomberg BusinessOPEC+ Ratifies Planned Oil Quota Hike as Gulf Flows Rebound
CNBCOPEC+ set to approve another oil output increase, sources sa...
NewsMaxOPEC+ Set to Approve Another Oil Output Increase, Sources Sa...
Коммерсант.ruReuters: в ОПЕК+ предварительно договорились увеличить добыч...
Interfax.ru"Семерка" ОПЕК+ достигла принципиального согласия увеличить ...
CNAOPEC+ approves further oil output increase as Hormuz exports...
Le Figaro.frPétrole : vers une nouvelle hausse des quotas de l'Opep+
Interfax.ruСтраны ОПЕК+ в воскресенье обсудят квоты по добыче нефти на ...
newsORF.atOPEC+ soll Ausweitung der Ölförderung planen
Fox BusinessOil prices hover near pre-conflict levels as OPEC+ boosts ou...
www.theepochtimes.comOPEC+ to Boost Oil Output in August
El FinancieroArabia Saudita y Rusia preparan otro aumento de producción d...
Notícias ao MinutoOPEP+ admite aumentar oferta de petróleo bruto pelo 5.º mês ...
elEconomista.esLa OPEP+ valora si aumenta su oferta de crudo en agosto por ...
elEconomista.esLa OPEP+ llega a un acuerdo de principio sobre un aumento de...
elEconomista.esLa OPEP+ llega a un acuerdo de principio sobre un aumento de...
infobaeLa OPEP+ evalúa aumentar su oferta de crudo en agosto por qu...
Московский КомсомолецСтраны ОПЕК+ продолжат повышать добычу нефти: что будет с це...
infobaeEl brent supera los 72 dólares pendiente de negociaciones EE...
Economic TimesJune: 10 mbpd, May: 3 mbpd: Gulf oil exports up, but 40% bel...
Bloomberg BusinessOPEC Output Surged in June as Hormuz Flows Jumped, Survey Sh...
The HinduGulf oil exports jump in June on record UAE flows
경향신문UAE crude exports hit an all-time high... restored to pre-U....
Bloomberg BusinessUAE Oil Flows Hit Pre-War Levels on Dark Ships and Hormuz By...
Investing.comOPEC+ adds 188,000 bpd to August quota as Gulf flows resume ...
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