21:54 - 28.07.2026

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July 28, Fineko/abc.az. OPEC+ is reportedly planning to pause further crude production quota increases after a final output hike in September.

According to alliance delegates, OPEC+ is assessing the fluid impacts of the US-Iran conflict on global oil supplies. During the upcoming virtual meeting on August 2, the group plans to ratify a 188,000 barrel-per-day production increase for September. This move will mark the completion of the current expansion cycle, with no further quota hikes scheduled for the remainder of the year. Delegates noted that while this remains the baseline plan, it could be adjusted based on evolving market conditions.

Crude prices have experienced sharp volatility recently, spiking above $100 per barrel last week before retreating below $90 following a pause in hostilities. Due to supply disruptions in the Middle East, the full operational impact of these quota adjustments is expected to take time to materialize. The Saudi Ministry of Energy and OPEC representatives have not yet issued official comments.