VERIFIEDMint Industry·2 Aug 2026neutral

OPEC+ approves 188,000 bpd oil output hike for September amid supply disruptions, fully reverses 2023 output cuts

AI Summary

·OPEC+ has approved an 188,000 bpd oil output increase for September.
·This quota increase fully reverses the 1.65 million bpd voluntary production cut agreed in 2023.
·The UAE was part of the production management arrangement when the 2023 cuts were agreed.