OPEC+ is preparing to approve one more production increase for September and then put the monthly quota parade on hold through the end of the year:
Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman are expected to raise their combined September target by about 188,000 barrels per day when they meet on August 2:
This increase would match the increases announced for June, July, and August and complete the return of a 1.65-million-bpd voluntary cut agreed in 2023:
OPEC+ now appears ready to stop changing production targets from October until new quotas take effect in January 2027:
This pause would leave another 2 million bpd of group-wide cuts in place through the end of 2026:
OPEC+ members are reviewing the maximum sustainable production capacity of their members, which will be used to set 2027 baselines:
