Opec+ agrees 100,000 b/d quota increase for September

ALGIERS - The Organization of the Petroleum Exporting Countries and its allies, referred to as "OPEC+", has agreed, at the 31st ministerial meeting, held on Wednesday, a nominal 100,000 b/d increase in the overall production quotas for September, announced the Minister of Energy and Mines, Mohamed Arkab.

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ALGIERS – The Organization of the Petroleum Exporting Countries and its allies, referred to as “OPEC+”, has agreed, at the 31st ministerial meeting, held on Wednesday, a nominal 100,000 b/d increase in the overall production quotas for September, announced the Minister of Energy and Mines, Mohamed Arkab.

This is a lower increase compared to 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.

Opec+ is next set to meet on 5 September, according to the Minister.

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