{"id":2000118374,"date":"2026-07-05T15:02:32","date_gmt":"2026-07-05T13:02:32","guid":{"rendered":"https:\/\/new.igihe.com\/english\/?p=2000118374"},"modified":"2026-07-05T15:02:33","modified_gmt":"2026-07-05T13:02:33","slug":"opec-to-raise-oil-production-cap-by-188000-barrels-per-day-in-august","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/opec-to-raise-oil-production-cap-by-188000-barrels-per-day-in-august\/","title":{"rendered":"OPEC+ to raise oil production cap by 188,000 barrels per day in August"},"content":{"rendered":"\n

The decision was announced following the meeting attended by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, which reviewed global market conditions and outlook.<\/p>\n\n\n\n

In their collective commitment to supporting oil market stability, the seven participating countries decided to implement a production adjustment of 188,000 barrels per day from the additional voluntary adjustments announced in April 2023, the statement said, adding that the adjustment will be implemented in August.<\/p>\n\n\n\n

The voluntary production cuts of 1.65 million bpd were first announced in April 2023 and were later extended through the end of 2026.<\/p>\n\n\n\n

The decision made on Sunday marks the fifth consecutive month for the OPEC+ to ramp up its production, in spite of the exit of the United Arab Emirates from the OPEC and the wider OPEC+ alliance on May 1.<\/p>\n\n\n\n

According to the statement, the seven countries would flexibly adjust their production regarding the evolving market conditions. They are scheduled to meet again on August 2 to make further decisions for September.<\/p>\n\n\n\n

\"\"
OPEC+ countries agreed on Sunday to raise the oil production cap in August, 2026<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

OPEC+ countries agreed on Sunday to raise the oil production cap in August by 188,000 barrels per day (bpd) from July levels, according to a statement published after a virtual meeting of OPEC+.<\/p>\n","protected":false},"author":3,"featured_media":2000118376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[151,69],"byline":[235],"hashtag":[],"class_list":["post-2000118374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-editors-choice","tag-homehighlights","byline-xinhua"],"bylines":[{"id":235,"name":"Xinhua","slug":"xinhua","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":80}],"contributors":[{"id":235,"name":"Xinhua","slug":"xinhua","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":80}],"featured_image":{"id":2000118376,"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/YeWSfeJl-shutterstock_2379876513-1200x665-1.jpg","alt":"","caption":"OPEC+ countries agreed on Sunday to raise the oil production cap in August, 2026","mime_type":"image\/jpeg","width":1200,"height":665,"sizes":{"thumbnail":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/YeWSfeJl-shutterstock_2379876513-1200x665-1.jpg","width":1200,"height":665},"medium":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/YeWSfeJl-shutterstock_2379876513-1200x665-1.jpg","width":1200,"height":665},"medium_large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/YeWSfeJl-shutterstock_2379876513-1200x665-1.jpg","width":1200,"height":665},"large":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/YeWSfeJl-shutterstock_2379876513-1200x665-1.jpg","width":1200,"height":665},"full":{"url":"https:\/\/cdn.igihe.com\/en\/2026\/07\/YeWSfeJl-shutterstock_2379876513-1200x665-1.jpg","width":1200,"height":665}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000118374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=2000118374"}],"version-history":[{"count":1,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000118374\/revisions"}],"predecessor-version":[{"id":2000118377,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/2000118374\/revisions\/2000118377"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000118376"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=2000118374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=2000118374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=2000118374"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=2000118374"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=2000118374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}