The alliance continues monthly quota hikes despite Middle East supply constraints and ongoing regional conflict.
OPEC+ will raise its oil production by 188,000 barrels per day starting in September, the group announced. The decision marks another incremental increase in monthly quotas amid persistent supply disruptions linked to the Iran war and broader Middle East tensions.
The alliance has steadily lifted output targets each month this year, even as regional conflicts limit actual supply growth. Previous adjustments followed a similar pattern, balancing market stability with gradual increases to meet demand.
The move comes as global oil markets monitor geopolitical risks and demand trends, with WTI crude serving as a key benchmark for pricing and trading.