OPEC+ to raise oil output in September, led by Saudi Arabia, Russia

Saudi Arabia, Russia lead OPEC+ oil output hike in September

OPEC+ countries will increase oil output by a total of 188,000 barrels per day starting in September, following a review of global market conditions. Saudi Arabia and Russia will account for the largest share of the boost.

Scraper SystemAugust 02, 2026, 08:34 PM

Saudi Arabia, Russia lead OPEC+ oil output hike in September

OPEC+ countries held an online meeting to assess recent developments in the oil market. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman participated, agreeing to increase production starting in September.

The countries will raise total daily oil output by 188,000 barrels, as part of the voluntary production cuts of 1.65 million barrels per day announced in April 2023, and in line with their commitment to preserving market stability.

Saudi Arabia and Russia will account for the bulk of the increase, each adding 62,000 barrels per day. The remaining increases are: Iraq 26,000, Kuwait 16,000, Kazakhstan 10,000, Algeria 6,000, and Oman 5,000 bpd.

Phase-out of production cuts continues

OPEC+ countries have been implementing gradual production cuts since 2022 to ensure market stability. As of March 2025, total cuts had reached 5.85 million barrels per day. These cuts consisted of a 2 million bpd cut announced in October 2022, a 1.65 million bpd voluntary cut declared in April 2023, and an additional 2.2 million bpd voluntary cut announced in November 2023.

Last year, between April and September, these countries gradually raised output to restore the 2.2 million bpd cut. From October 2025, the process to return the remaining 1.65 million bpd voluntary cut to the market began. The new decision is part of that process.

The group's next meeting is scheduled for September 6.