Reported 27 days ago
OPEC+ countries have decided to increase oil production by 547,000 barrels per day starting in September, following a virtual meeting on August 3, 2025. This decision is aimed at addressing low oil inventories and a stable global economic outlook. Notably, the production boost comes ahead of schedule, as it ends previous voluntary cuts initially set to last until September 2026. The countries involved include Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman. The next meeting is scheduled for September 7.
Source: YAHOO