Seven OPEC+ nations agreed during a virtual meeting on Sunday to implement an oil production adjustment of 188,000 barrels per day starting in July 2026.
According to the official statement, Algeria, Iraq, Kuwait, Saudi Arabia, Kazakhstan, Oman, and Russia will gradually phase out portions of the voluntary output cuts enacted in April 2023. The group emphasized retaining full flexibility to adjust, pause, or reverse these measures based on evolving global market conditions.
https://breakingthenews.net/Article/OPEC+-raises-July-oil-output-quota-by-188000-bpd/66454951
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