OPEC+ approves September output hike, completes 2023 cuts rollback
OPEC+ has approved a production increase of 188,000 barrels per day for September, finalizing the reversal of supply cuts initiated in 2023. Analysts expect the group to pause further increases in the fourth quarter as they monitor market stability amid ongoing geopolitical tensions.
Why it matters
This decision directly impacts global oil prices and energy market stability, particularly given the ongoing conflicts affecting supply routes.
OPEC+ has approved a fresh increase in oil production quotas for September of roughly 188,000 b/d, completing the phased reversal of voluntary supply cuts first introduced in 2023. The decision, confirmed in an official OPEC statement following a virtual meeting on Aug. 2, 2026 , marks the sixth consecutive monthly increase by the group this year.
Seven core members of the alliance - Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman - agreed to raise output targets. The move completes the unwinding of the 1.65-million b/d voluntary supply cut originally agreed in 2023, back when the group still included the United Arab Emirates (UAE), which exited OPEC in May .
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