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188,000 barrels per day.. New increase expected from OPEC+

July 5, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
188,000 barrels per day.. New increase expected from OPEC+

The OPEC+ alliance is set to approve a new increase in oil production starting from next August, amounting to 188,000 barrels per day, according to informed sources, in a move aimed at injecting more supplies into global markets amid falling crude prices and the resumption of export flows through the Strait of Hormuz. The sources, cited by Reuters, stated that the alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, has preliminarily reached an agreement to raise production quotas at the same pace as those set for June and July, with the decision to be presented for approval during the meeting scheduled for today, Sunday, via video conferencing.

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