CommoditiesMediumUpdated•Originally published 2 August 2026•Updated 2 August 2026•
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OPEC+ Agrees in Principle to Raise September Oil Output
Key Facts
1OPEC+ agreed in principle to raise oil output targets by about 188,000 barrels per day from September, according to a source familiar with the talks.
2The preliminary agreement includes pausing any further output increases during the fourth quarter.
According to reports, the move comes as the oil market watches for shifts in the pace of supply from major producers. OPEC+ agreed in principle to raise oil output targets by about 188,000 barrels per day from September, according to a source familiar with the talks. The preliminary agreement also includes pausing any further output increases during the fourth quarter.
The planned increase would add supply to the oil market, a factor that could weigh on crude prices. However, the fourth-quarter pause would limit further supply growth later in the year. The expected effect is therefore bearish for crude, though the scheduled pause moderates the pressure.