OPEC+ decides to increase production by 100,000 b/d in September

The Organization of the Petroleum Exporting Countries and its allies, referred to as “OPEC+”, decided at their 31st ministerial meeting on Wednesday to increase the alliance’s total oil production by 100,000 barrels a day in September next, announced the Minister of Energy and Mines, Mohamed Arkab.

The 23 OPEC+ countries (13 OPEC members and 10 non-member producer countries) have thus opted, for next September, to reduce the increase in production, compared to that decided at the end of June, to the month of August.

This is a lower increase than those applied since the implementation of a gradual increase plan decided in July 2021.

Since August 2021, OPEC+ production has increased monthly by 400,000 barrels/day before reaching 432,000 barrels/day, then 648,000 barrels/day recently.