Iraq has the right to increase its production by 26 thousand barrels… (тыс · млн · добыча)
Iraq has the right to increase its production by 26 thousand barrels per day (b/d), reaching a total of 4.378 million b/d; Kuwait by 16 thousand b/d, up to 2.644 million b/d; and Algeria by 6 thousand b/d, up to 995 thousand b/d. Kazakhstan's quota has increased by 10 thousand b/d to 1.609 million b/d, while Oman's has risen by 5 thousand b/d to 831 thousand b/d. The 'Seven' countries (formerly the 'Eight', but with the UAE having exited OPEC since May - IF) meet monthly, as their production quotas are currently being adjusted.
Consensus
- Seven OPEC+ countries will increase oil production by 188,000 barrels per day starting in July.
- The decision was made at a June meeting of ministers from these seven countries.
- Russia and Saudi Arabia will each increase their production quotas by 62,000 barrels per day.
Points of divergence
- The decision was made after the UAE left OPEC in May — kommersant
- Kazakhstan and Oman have been exceeding their production quotas, with Kazakhstan violating by nearly 1 million barrels per day. — interfax
- OPEC has not yet announced a new compensation schedule for overproduction — interfax
Coverage (2 sources)
- Reuters: Seven OPEC+ countries will continue to increase oil production in August — Коммерсантъ
- OPEC+ production quotas for seven countries to rise by 188k barrels/day from July — Интерфакс