OPEC and allies plan 188,000 bpd increase from September 2026
OPEC and its allies (OPEC+) are gearing up to increase oil production by 188,000 barrels a day starting September 2026.
This move is meant to undo earlier cuts made when prices were dropping, and OPEC+ members will meet online on Sunday (August 2, 2026) to decide on quotas.
It follows similar hikes over several months as the group tries to steady global oil prices.
OPEC+ faces export and output challenges
Even with these plans, OPEC+ is facing real challenges.
Gulf countries are struggling with exports, exports through the Strait of Hormuz are getting disrupted by Middle East conflicts, and Russia's output is down thanks to repeated Ukrainian drone attacks.
Plus, the United Arab Emirates left OPEC+ in May, making future quota talks trickier.
Despite all this, Jorge Leon thinks this adjustment could be the last in the current series of production adjustments.