{"id":17166,"date":"2026-06-08T07:13:23","date_gmt":"2026-06-08T07:13:23","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17166"},"modified":"2026-06-08T07:13:23","modified_gmt":"2026-06-08T07:13:23","slug":"opec-to-make-small-oil-output-quota-hike-for-july","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17166\/","title":{"rendered":"OPEC+ to make small oil output quota hike for July"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in July, OPEC said in a statement after a meeting on Sunday.<\/p>\n

Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman agreed to the increase during a virtual meeting held to review global market conditions and the outlook for oil demand. The adjustment is part of the group\u2019s gradual rollback of voluntary production cuts first announced in April 2023. \u00a0<\/span><\/p>\n

The increase matches the production target hike approved for June and marks the fourth consecutive monthly increase by the seven producers. Since April, the group has raised its combined output targets by nearly 600,000 barrels per day as part of a broader plan to restore barrels previously withheld from the market. \u00a0<\/span><\/p>\n

In its statement, OPEC said the participating countries remain committed to supporting oil market stability and will continue to closely monitor market developments. The group added that it retains the flexibility to increase, pause or reverse the phase-out of voluntary production cuts depending on market conditions. \u00a0<\/span><\/p>\n

The seven countries also reaffirmed their commitment to full compliance with the Declaration of Cooperation and pledged to compensate for any previous overproduction. The next meeting of the group is scheduled for July 5, when production levels for August will be reviewed. \u00a0<\/span><\/p>\n

Updated on