OPEC+ countries to increase production due to fears of disruptions in Russian oil supplies
OPEC+ countries agreed to increase oil production by 547,000 barrels per day in September amid fears of possible supply disruptions linked to Russia. About this informs Reuters.
This decision was taken during a short online meeting amid increasing pressure from the US on India to stop importing Russian oil. The move marks the end of OPEC+’s longest period of oil production cuts, and at the same time sees the United Arab Emirates increase output to about 2.5 million barrels per day.
The next meeting of the participating countries is scheduled for September 7, where the issue of production volumes will be discussed again. For several years, OPEC+ has limited production to support oil prices. In 2025, the group changed its strategy, seeking to regain some of the market, in particular in response to calls from US President Donald Trump to increase production.
It will be recalled that on July 14, Donald Trump said that the United States may introduce 100% tariffs on buyers of Russian oil, as well as other sanctions, if Russia does not agree to a peace agreement with Ukraine, the term of which expires at the beginning of September.
In April, 50 US congressmen, including Republican Lindsey Graham and Democrat Richard Blumenthal, introduced a bipartisan bill on sanctions against Russia in the event of a breakdown in peace talks over Ukraine. The document provides for the introduction of both primary and secondary sanctions, including 500% tariffs on the supply of Russian oil and its derivatives to those countries that continue to purchase it.
