OPEC+ raises August 2026 oil production quotas by 188,000 barrels per day
OPEC+ decided on Sunday to increase oil production quotas by 188,000 barrels per day for August 2026, involving seven members. Seven core members had previously raised output by almost 600,000 barrels per day from April to June. The United States’ war with Iran cut oil flows through the Strait of Hormuz, creating the world’s biggest‑ever supply crisis. English.aawsat.com reported that OPEC+ also批准
OPEC+ decided on Sunday to increase oil production quotas by 188,000 barrels per day for August 2026. The increase involved seven OPEC+ members – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. Seven core members of OPEC+ had raised their output quotas between April and June by almost 600,000 barrels per day. The United States’ war with Iran cut oil flows through the Strait of Hormuz, creating what was described as the world’s biggest‑ever supply crisis. According to english.aawsat.com, OPEC+ approved a fourth oil output quota hike since the Hormuz closure.
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