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OPEC+ Ends Cuts, Eyes 2027 Quotas | US News
OPEC+ just approved a major oil production boost of 188,000 barrels daily starting in September, effectively ending voluntary cuts from earlier this year. Despite the announcement, market impact has been muted due to ongoing disruptions from Russia and Kazakhstan. This move completes the phased return of a 1.65 million barrel-per-day reduction agreed in 2023. Looking ahead, analysts predict a possible pause on further hikes in the final three months of the year, as OPEC+ prepares to manage potential supply surpluses. They’re also reviewing national production capacities — a critical step that…
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