New Facts: OPEC+ Approves 188,000 Bpd Output Increase
On July 5, 2026, OPEC+ approved another supply increase, with seven member countries agreeing to lift combined oil output by 188,000 barrels per day starting in August.
The seven countries are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, a group that has been applying additional voluntary cuts beyond OPEC+’s formal quotas.
OPEC+ coupled the move with a pledge to maintain market stability, and multiple outlets note Gulf crude flows through the Strait of Hormuz have begun to recover as regional tensions ease.
The decision extends a series of supply hikes: from April through July, OPEC+ raised quotas by almost 800,000 barrels per day, and the August adjustment is the second straight monthly increase for this subset of members.
OPEC+’s next meeting is scheduled for August 2, when the group will convene again to assess conditions and policy.
Synthesized from 6 sources
AI-synthesized from multiple reported sources
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