OPEC+ will increase oil production by 188,000 barrels per day starting in September

The OPEC+ alliance, led by Saudi Arabia and Russia, announced in Vienna on August 2 that it will increase oil production by 188,000 barrels per day starting in September. This decision marks the sixth consecutive month that the group has opted to raise its supply levels.

The move continues the organization's current strategy of incremental production increases. The output adjustment remains limited in scope as the alliance balances market demand with its established production framework.