OPEC+ Alliance Approves Increase in Oil Production by 547,000 Barrels Per Day
August 3, 2025358 ViewsRead Time: 1 minutes
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The OPEC+ alliance agreed today, Sunday, to increase oil production by 547,000 barrels per day in September, the latest in a series of rapid production increases to regain market share amid growing concerns about a potential supply disruption related to Russia.
This move represents a complete and early reversal of the largest portion of production cuts approved by the OPEC+ alliance, in addition to a separate increase in production from the UAE of about 2.5 million barrels per day, or about 2.4% of global demand.
Eight members of OPEC+ held a brief online meeting amid increasing U.S. pressure on India to halt Russian oil purchases, as part of Washington's efforts to push Moscow to the negotiating table for a peace agreement with Ukraine. U.S. President Donald Trump stated that he wants this to happen by August 8.
The alliance attributed its decision in a statement issued after the meeting to the strength of the economy and declining inventories.
This move represents a complete and early reversal of the largest portion of production cuts approved by the OPEC+ alliance, in addition to a separate increase in production from the UAE of about 2.5 million barrels per day, or about 2.4% of global demand.
Eight members of OPEC+ held a brief online meeting amid increasing U.S. pressure on India to halt Russian oil purchases, as part of Washington's efforts to push Moscow to the negotiating table for a peace agreement with Ukraine. U.S. President Donald Trump stated that he wants this to happen by August 8.
The alliance attributed its decision in a statement issued after the meeting to the strength of the economy and declining inventories.
