THE HALFAX HEIMDALL AUGUR

OPEC+ Decides on Fourth Oil Quota Hike Since Hormuz Closure OPEC+ agreed on Sunday a fourth increase in its oil output targets in as many months, even though the US war with Iran is still preventing several of the group's members from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world's biggest-ever supply crisis as key OPEC+ members including Saudi Arabia have been unable to supply customers in full since the end of February. Seven core members of OPEC+, which ‌groups ⁠OPEC and allied producers ⁠including Russia, have increased their output quotas from April to June by almost 600,000 barrels per day. In reality, the group's production has collapsed due to export cuts by Gulf members, averaging 33.19 million bpd in April compared with 42.77 million in February, according to OPEC figures. On Sunday, the seven members decided to increase targets by 188,000 bpd from July, OPEC said in a statement. This is the same as the June hike, which was adjusted down from monthly increases ⁠of 206,000 bpd in May and April to take into ‌account the United Arab Emirates’ exit. The UAE left OPEC after almost 60 years. On Friday, oil prices fell to around $93 a barr…

OPEC+ Agrees in Principle to Another Large Oil Output Hike, Sources Say Print 🖨 Summary Sept hike of 548,000 bpd agreed, sources say ahead of meeting Virtual meeting starts at 1100 GMT on Sunday Oil supported by US demands for India to stop buying Russian oil (Reuters) – OPEC+ has reached a preliminary deal to increase oil production by 548,000 barrels per day from September, three sources said on Sunday as concerns mount over potential supply disruptions linked to Russia. A decision is expected at a virtual meeting set to begin at 1100 GMT, amid increasing U.S. pressure on India to halt Russian oil purchases – part of Washington’s efforts to bring Moscow to the negotiating table for a peace deal with Ukraine. Get the Latest US Focused Energy News Delivered to You! It's FREE: Quick Sign-Up Here OPEC+ includes 10 non-OPEC oil producing countries, most notably Russia and Kazakhstan. If agreed, the latest move would mark a full reversal of its largest tranche of output cuts. The group, which pumps about half of the world’s oil, had been curtailing production for several years to support oil prices. It reversed course this year in a bid to regain market share, spurred in part by calls…

OPEC+ countries to raise oil output after prices fall <article data-history-node-id="443691" about="https://www.middleeasteye.net/live-blog/live-blog-update/opec-countries-raise-oil-output-after-prices-fall" class="live-blog-update default clearfix"> <h2> <a href="https://www.middleeasteye.net/live-blog/live-blog-update/opec-countries-raise-oil-output-after-prices-fall" rel="bookmark"> <span class="field field-title">OPEC+ countries to raise oil output after prices fall</span> </a> </h2> <div class="content"> <div class="field field-field-text"><p>A handful of countries in the OPEC+ oil-producing alliance plan to modestly increase their output next month, bringing more oil online after fuel prices fell to levels not seen since before the US-Israeli war on Iran.</p> <p>The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, announced that seven countries would expand oil production by a combined 188,000 barrels per day in August.</p> <p>It is the fifth consecutive month that OPEC+ has agreed to raise oil output.</p> <p>The countries participating in Sunday's decision are Saudi Arabi…

More crude ahead as OPEC+ hikes August output by 188,000 barrels per day OPEC+ has approved an additional 188,000 barrels per day production increase for August, aiming to boost global crude availability and ease price pressures, particularly for importing nations like India. This move, part of a broader unwinding of production cuts, comes as global benchmark Brent crude nears pre-conflict levels. While oil firms anticipate breaking even on petrol and diesel soon, cooking gas sales continue to incur losses.

OPEC+ agrees fresh August oil output hike as Strait of Hormuz reopens OPEC+ is boosting oil output by another 188,000 barrels daily from August, continuing to reverse earlier cuts. Despite this, actual supply remains below pre-conflict levels due to disruptions impacting key producers. Oil prices have already fallen to pre-war figures, influenced by weaker Chinese demand and strategic reserve releases. The group faces internal shifts with the UAE's exit and Iraq's quota requests.

OPEC+ tipped to raise quotas again as Middle East calms <article data-history-node-id="443622" about="https://www.middleeasteye.net/live-blog/live-blog-update/opec-tipped-raise-quotas-again-middle-east-calms" class="live-blog-update default clearfix"> <h2> <a href="https://www.middleeasteye.net/live-blog/live-blog-update/opec-tipped-raise-quotas-again-middle-east-calms" rel="bookmark"> <span class="field field-title">OPEC+ tipped to raise quotas again as Middle East calms</span> </a> </h2> <div class="content"> <div class="field field-field-text"><p>Seven OPEC+ members are likely to raise oil production quotas on Sunday as Gulf countries are reeling from the Middle East war, analysts told AFP.</p> <p>Saudi Arabia, Russia and five other members of the enlarged Organisation of the Petroleum Exporting Countries (OPEC+) are meeting online on Sunday to discuss quotas for August.</p> <p>OPEC+ will likely continue "to unwind the production cuts at the same pace like in the previous months", said Giovanni Staunovo, a commodity analyst at the Swiss bank UBS, predicting an increase of 188,000 barrels per day.</p> <p>"But for now, pro…

OPEC+ Output Hike After UAE Departure: June 2026 BYMUFLIH HIDAYATON MAY 4, 2026 Oil market coordination has never been a straightforward exercise. Since the formation of the original OPEC cartel in 1960, the fundamental tension within any producer alliance has remained constant: individual nations pursue maximum revenue and capacity utilisation, while the collective framework demands restraint and shared sacrifice. For decades, that tension was manageable. In May 2026, however, it became structurally irreversible. The OPEC+ production increase after UAE departure has generated considerable market commentary, but most analysis has focused on the headline figure rather than the deeper architecture of what the decision represents. Understanding the June 2026 output adjustment requires stepping back from the 188,000 barrel-per-day number and examining the institutional forces, capacity gaps, and geopolitical windows that made this moment inevitable. Furthermore,oil market geopoliticshave been shifting steadily, making this development part of a broader structural story. For years, the UAE operated within an OPEC+ quota framework that bore increasingly little relationship to its act…

OPEC+ countries say they will expand monthly oil production Seven OPEC+ members, including Saudi Arabia and Russia, to increase output by 188,000 barrels per day.

OPEC+ Maintains Gradual Supply Strategy as Seven Producers Approve ... OPEC. — منظمة الدول المصدّرة للنفط (أوبك). Seven key OPEC+ producers have agreed to raise their oil production target by a combined 188,000 barrels per day starting in July 2026, extending the alliance’s gradual effort to unwind voluntary production cuts while maintaining a cautious stance toward market stability. The adjustment was agreed by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman following virtual consultations. It marks another step in the phased return of supply previously withheld under voluntary cuts announced in 2023. The decision comes at a sensitive moment for the oil market. While headline quotas are rising, physical supply conditions remain complicated by geopolitical disruption, shipping constraints, and uneven production capacity across members. This makes the distinction between approved production targets and actual barrels delivered to the market especially important. A Modest Increase with Strong Signaling Value The agreed 188,000 bpd increase is modest relative to global oil demand, which is roughly around 100 million bpd. In percentage terms, the July adjustment repr…

OPEC+ holds 2026 group-wide oil output steady, agrees capacity ... - CNBC OPEC+ countries agreed to maintain group-wide oil output quotas for 2026 in a meeting on Sunday, and also agreed on a mechanism to assess members' maximum oil production capacity, OPEC said in a statement. Eight OPEC+ countries, holding a separate meeting on Sunday, also have an agreement in principle to maintain a pause in their output hikes for the first quarter of 2026, an OPEC+ source and a person familiar with OPEC+ talks said earlier. The meeting of OPEC+, which pumps half of the world's oil, comes during a fresh U.S. effort to broker a Russia-Ukraine peace deal, which could add to oil supply if sanctions on Russia are eased. Ministers have started a series of online meetings, two sources said. If the peace deal fails, Russia could see its supply curbed further by sanctions. OPEC+ groups the Organization of the Petroleum Exporting Countries and allies led by Russia. Brent crude closed on Friday near $63 a barrel, down 15% this year. OPEC+ has paused oil output hikes for the first quarter of 2026 after releasing some 2.9 million barrels per day into the market since April 2025. The group still has…

Opec+ approves fourth oil output quota hike since Hormuz closure <p>Opec+ agreed on Sunday on a fourth increase in its oil output targets in as many months, even though the <a href="https://www.dawn.com/live/iran-israel-war#2005887">US war with Iran</a> is still preventing several of the group’s members from pumping more.</p> <p>The war has cut oil flows via the Strait of Hormuz, creating the world’s biggest-ever supply crisis as key Opec+ members, including Saudi Arabia, have been unable to supply customers in full since the end of February.</p> <p>The crisis for Opec+ deepened when the United Arab Emirates <a href="https://www.dawn.com/news/1995786">left</a> the Organisation of the Petroleum Exporting Countries (Opec) after almost 60 years.</p> <p>Seven core members of Opec+, which groups Opec and allied producers including Russia, have increased their output quotas from April to June by almost 600,000 barrels per day.</p> <h2><a id="impact-of-production-target-increase" href="#impact-of-production-target-increase" class="heading-permalink" aria-hidden="true" title="Permalink"></a>Impact of production target increase</h2> <p>In reality, the group’s production has collapsed due t…

OPEC+ set for fourth oil quota hike since Hormuz closure, sources say Seven core members of OPEC+, ‌which groups OPEC and allied producers including Russia, have ​increased their output quotas from April to June by almost 600,000 barrels per day

OPEC+ Has Plan to Complete Series of Quota Hikes In a move that signals business-as-usual intent amid extraordinary disruption, OPEC+ delegates have outlined plans to press ahead with a series of oil production quota increases, aiming to fully unwind the final layer of voluntary cuts announced in 2023 by the end of September 2026. According to Bloomberg reporting, key members intend to raise targets further and revive the remaining one-third of a 1.65 million barrels-per-day (bpd) supply cutback—roughly 550,000 bpd—in three monthly stages. The latest hike, announced after a virtual meeting on May 3, 2026, calls for an additional 188,000 bpd in June by seven participating countries: Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman. This follows similar modest increases in prior months (e.g., ~206,000 bpd adjustments) and comes shortly after the United Arab Emirates’ formal exit from both OPEC and OPEC+ effective May 1, 2026. The UAE’s departure removes one of the group’s most capable producers from the quota framework. While the plan restores quotas “on paper,” delegates privately acknowledge that major members cannot actually deliver these hikes. The ongoing Iran …

OPEC+ agrees to oil output increase in October - CNBC OPEC+ has agreed to further raise oil production from October as its leader Saudi Arabia pushes to regain market share, while slowing the pace of increases compared with previous months due to an anticipated weakening of global demand. OPEC+ has been increasing production since April after years of cuts to support the oil market, but the Sunday decision to further boost output came as a surprise amid a likely looming oil glut in the northern hemisphere winter months. Eight members of OPEC+ agreed on Sunday in an online meeting to raise production from October by 137,000 barrels per day, it said in a statement, much lower than the monthly increases of about 555,000 bpd for September and August and 411,000 bpd in July and June. The Sunday deal also means OPEC+ has begun to unwind a second tranche of cuts of about 1.65 million bpd by eight members more than a year ahead of schedule. The group has already fully unwound the first tranche of 2.5 million bpd since April, equivalent to about 2.4 percent of global demand. "The barrels may be small, but the message is big," said Jorge Leon, analyst at Rystad and a former OPEC officia…

OPEC to increase oil output amid continued closure of Strait of Hormuz June 7 (UPI) -- The Organization of the Petroleum Exporting Countries on Sunday agreed to increase production by nearly 200,000 barrels per day despite the Strait of Hormuz remaining closed, making it near-impossible to ship any of it. Ordinarily, OPEC increasing oil production among the group of nations that comprise it would lower its cost, but experts have called the move largely symbolic because of the ongoing war in Iran, The New York Times and Wall Street Journal reported. The Strait of Hormuz, which 20% of the world's oil supply ordinarily would pass through daily, has been closed since early in the war as part of Iran's effort to counter the war launched by the United States and Israel in February. The OPEC members that agreed to the 188,000-barrel increase for July -- the fourth month in a row that the group is increasing production -- include Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman. The countries agreed to the increase as part of the group's "commitment to support oil market stability" and said the latest production increase would also allow the participating nations to "accel…

OPEC+ Announces Plan to Increase Oil Output by 188,000 Barrels in July OPEC+ Nations Seven OPEC+ nations have agreed to increase oil production by 188,000 barrels per day starting in July, marking the first step toward unwinding the additional voluntary supply cuts they imposed in 2023 as the coalition seeks to balance market stability with recovering demand. The strategic decision reflects an effort by the member nations to test the waters of the global market without causing immediate downside volatility. By focusing on a minor, gradual adjustment, the alliance aims to ensure that prices remain supported while satisfying a projected uptick in energy consumption across importing economies. “The additional voluntary adjustments announced in April 2023 may be returned in part or in full subject to evolving market conditions and in a gradual manner. They reaffirmed the importance of adopting a cautious approach and retaining full flexibility to increase, pause, or reverse the phase-out.” Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met to review global market conditions and agreed to implement the production adjustment from the voluntary curbs first announc…

OPEC+ agrees fourth oil output quota hike in July - FXStreet The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to increase production by 188,000 barrels per day (bpd) in July despite the continued closure of the Strait of Hormuz. This is the same as the June hike, which was adjusted down from a monthly rise of 206,000 bpd in May and April to take into account the United Arab Emirates (UAE) exit. Market reaction At the time of writing, the West Texas Intermediate (WTI) is up 2.35% on the day at $90.65. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, …

OPEC+ increases production quotas for August OPEC+ ministers decided Sunday to increase oil quotas by a total of 188,000 barrels per day for August, a similar increase to others agreed in recent months, the organization announced.For all the latest headlines, follow our Google News channel online or via the app.Ministers from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman held virtual talks and “decided to implement a production adjustment of 188 thousand barrels per day,” an OPEC statement said, adding that “this adjustment will be implemented in August 2026.”Read more:Trump urges gasoline retailers to lower prices, warns of ‘big problems’ if they don’t

Opec+ approves further oil output increase as Hormuz exports start to recover <p>Opec+ has agreed a <a href="https://www.dawn.com/news/2005888/opec-approves-fourth-oil-output-quota-hike-since-hormuz-closure">further increase</a> in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices are falling due to the gradual reopening of the Strait of Hormuz for oil exports.</p> <p>The oil-producing group agreed during an online meeting to increase quotas by 188,000 barrels per day from August, on top of similar increases for <a href="https://www.dawn.com/news/1997215">June</a> and <a href="https://www.dawn.com/news/2005888/opec-approves-fourth-oil-output-quota-hike-since-hormuz-closure">July</a>.</p> <p>The seven core members of Opec+, which groups Opec and allied producers including Russia, have hiked their output quotas from April through July by almost 800,000 bpd.</p> <p>Yet the increase has remained largely on paper because of the US-Israeli war on Iran, which closed the Strait of Hormuz to tanker traffic for some of the most important Opec+ members, including Saudi Arabia, Kuwait and Iraq.</p> <h2><a id="production-begi…

OPEC+ agrees on new oil output hike as Hormuz gradually recovers OPEC+ group has agreed on one more output hike, covering the adjustment for August, it said in ⁠a statement on Sunday, adding to global supply at a time when oil prices are falling...

OPEC+ agrees 4th straight oil output hike since Hormuz closure OPEC+ agreed on Sunday a fourth straight hike in its oil output targets in as ​many months, the organization said in a statement, ​even though ⁠the ongoing conflict in the Middle E...

🛢️ [OIL] OPEC+ HAS AN AGREEMENT IN PRINCIPLE TO RAISE OIL OUTPUT QUOTAS BY 188,000 BARRELS PER DAY IN AUGUST, REUTERS REPORTED ON SUNDAY, CITING A SOURCE FAMILIAR WITH THE GROUP’S TALKS. ... - $SOURCE$ ⚡ Live alerts: https://t.me/tickertap_alerts

Organization of the Petroleum Exporting Countries - opec.org In view of the current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411 thousand barrels per day in June 2025 from May 2025 required production level. This is equivalent to three monthly increments as detailed in the table below. The gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that were agreed to be monitored by the JMMC during its 53rd meeting held on April 3rd 2024. They also confirmed th…

🛢️ [OIL] OPEC: SEVEN PARTICIPATING COUNTRIES INCLUDING SAUDI ARABIA, RUSSIA, IRAQ, KUWAIT, KAZAKHSTAN, ALGERIA AND OMAN TO IMPLEMENT 188K BPD PRODUCTION ADJUSTMENT; REAFFIRM COMMITMENT TO MARKET STABILITY; NEX... - $SOURCE$ ⚡ Live alerts: https://t.me/tickertap_alerts