OPEC+ increases oil production quota for September.

The 21 countries of Organization of the Petroleum Exporting Countries and allies (OPEC+) They agreed, in a virtual meeting held yesterday (2), to increase production of the energy commodity by 188 thousand barrels per day (bpd) from September. This is the sixth consecutive monthly increase and the same volume increased in August and July.

As described in the statement, production increases continue to be implemented to mitigate the impacts of the lack of energy distribution in the Persian Gulf, Russia, and Kazakhstan. 

The decision also concludes the gradual reversal of the 1.65 million bpd production cut agreed upon in 2023.

OPEC+ is made up of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, Oman, and other allies. The next meeting will be on August 6th.

This text was translated by machine from Brazilian Portuguese.