OPEC+ agrees to 188,000 bpd output hike from September, Kazakhstan adds 10,000 bpd
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OPEC+ members, including Kazakhstan and Saudi Arabia, have agreed to increase oil production quotas by about 188,000 barrels per day starting in September. Kazakhstan will add 10,000 barrels per day, Informburo.kz reported, completing the exit from 2023 voluntary cuts. Iraq is already seeking higher quotas as the alliance prepares to negotiate 2027 output baselines.
The Output Hike
The increase of around 188,000 bpd will be shared among seven countries — Kazakhstan, Saudi Arabia, Russia, Iraq, Kuwait, Algeria, and Oman — that have been gradually unwinding 1.65 million bpd in voluntary cuts agreed in 2023. After September, the group is expected to pause further increases for the rest of the year as geopolitical disruptions in the Middle East and Ukraine have limited actual export growth.
Kazakhstan’s Increase
Kazakhstan’s quota will rise by 10,000 bpd, Informburo.kz reported, a modest step as the country’s output growth has been constrained. The addition marks the end of the current easing cycle, with attention pivoting to the alliance’s review of production capacities for 2027 baselines.
2027 Talks and Iraq’s Push
Negotiations over the future of a separate 2 million bpd cut from 2022 will follow. Iraq is pressing for a higher quota, citing expanded capacity, a demand likely to face resistance. The capacity review will set the floor for those discussions, expected to be contentious.
What's Next
The group will pause any further increases after September, turning to negotiations over 2027 output baselines. It remains unclear whether Iraq’s push for a larger share will be accommodated or how the capacity review will reshape member quotas.
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OPEC+ agrees to 188,000 bpd output hike from September, Kazakhstan adds 10,000 bpd
