OPEC+ Ends Rollback of Voluntary Output Cuts, Approves Additional 188,000 Bpd
Group expected to pause further increases in Q4
Emmanuel Addeh in Abuja
The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) has approved a further increase in crude oil production for September, effectively completing the phased reversal of a key layer of voluntary output cuts introduced in 2023.
At a meeting held yesterday, the alliance agreed to raise production quotas by about 188,000 barrels per day from September for its core producers, including Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman.
