Eight OPEC+ Countries Approve Oil Production Increase

• 3.08.2025, 19:05

Cartel countries are preparing for Trump's sanctions.

The eight OPEC+ countries, including Russia and Saudi Arabia, agreed on an expected increase in oil production in September of 547,000 bpd, Reuters reported, citing a statement from the OPEC oil export cartel.

Russia's quota for September will be 9.449 million bpd.

So the full amount of the last voluntary production cut of 2.2 million bpd will return to the market between April and September, while the UAE will increase its quota ahead of schedule by 300.000 bpd.

In a statement on Sunday, the countries noted their commitment to market stability based on current healthy fundamentals and a sustainable global economic outlook.

The statement clarified that the production increase agreed for September will allow OPEC+ countries to accelerate compensation for previously overproduced volumes.

OPEC+ has two more cuts remaining: about 1.65 million bpd for the eight OPEC+ members and 2 million bpd for all members of the alliance. The next meeting of the eight is scheduled for September 7.

Sunday's meeting of the eight came amid U.S. President Donald Trump's demands that India halt imports of Russian oil, which could cause Moscow to lose a substantial share of revenue and potentially lead to a new global supply crisis, and ahead of weakening global demand in the fourth quarter.

The uncertainty surrounding tariffs and sanctions helped oil prices climb more than 4% this week. Brent hit a five-week high of $73.63 a barrel on Wednesday and was trading around $70 a barrel on Friday.