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Wednesday, August 5, 2026 12:57 GMT
Seven OPEC+ member countries have agreed to implement a production adjustment of 188,000 barrels per day (bpd) from their additional voluntary cuts, effective September 2026. The decision was taken at a virtual meeting on Saturday, which was attended by Iraq's Ministry of Oil. The seven countries involved are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. They also confirmed their intention to fully compensate for any overproduced volumes since January 2024, with the Joint...More