The Organization of the Petroleum Exporting Countries (OPEC) and its allies announced on July 5, 2026, that seven member countries will increase their oil production by a total of 188,000 barrels per day starting in August.
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Seven OPEC+ Countries to Increase Oil Production by 188,000 Barrels Per Day in August
On July 5, 2026, OPEC and its allies confirmed that seven countries will raise their oil production by 188,000 barrels per day in August. This decision comes amid a decline in oil prices.
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7 OPEC+ countries agree to expand monthly oil production modestly as prices slide
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Seven OPEC+ Countries to Increase Oil Production by 188,000 Barrels Per Day in August