Oil Production Hike: OPEC+ Nations Announce Increase of 1,88,000 Barrels Per Day Starting July 2026 To Support Global Oil Market Stability

The seven OPEC+ countries announced on Sunday that they would increase their production by another 188,000 barrels per day from July 2026 as part of "their collective commitment to support oil market stability". The OPEC+ oil cartel, comprising Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, took the decision after a virtual meeting on Sunday to "review global market conditions and outlook", according to a press statement,