OPEC+ member countries are predicted to approve more oil production on Sunday, noting that the members are still discussing the final increase for September, Reuters reported.
The group has accelerated production increases in recent months, pointing to low global inventories and growing demand.
This came at the time in which the U.S. renews pressure on India to halt Russian oil imports, part of Washington’s efforts to urge Moscow toward a peace agreement with Ukraine. Meanwhile, new EU sanctions have led Indian state-run refiners to pause their purchases of Russian oil.
The sources said that the increased volume may be estimated at 584,000 barrels per day (bbl/d), similar to August. Other sources pointed out that the volume may be smaller.
In April 2025, OPEC+ began phasing out their voluntary production cuts, initially totaling 2.2 million barrels per day (mmbbl/d) from eight key members.
OPEC plays a central role in regulating global oil supply and influencing oil prices. OPEC decisions are typically made during ministerial meetings, where member countries coordinate policies to manage oil production levels.
