OPEC+ Approves 188,000 bpd Oil Production Increase for August

OPEC+, Al Jazeera · Jul 12, 2026 00:00

Seven OPEC+ nations, including Saudi Arabia and Russia, agreed to raise their collective oil production target by 188,000 barrels per day starting August 2026. This marks the fifth consecutive monthly increase, reflecting improving export flows through the Strait of Hormuz.