OPEC+ Raises Oil Output Quotas by 548,000 Barrels per Day for August

OPEC+ has agreed to increase oil production quotas by 548,000 barrels per day in August 2025, according to the organisation’s press service. Analysts had expected a more modest rise of around 411,000 barrels per day.

The decision reflects the bloc’s view on the resilience of the global economy, steady energy demand and a decline in oil inventories worldwide. The move follows a gradual upward adjustment in production since April 2025.

Despite the planned quota increases, Brent crude prices climbed 5.1% over the past month. Market uncertainty intensified amid ongoing conflict between Israel and Iran and a US airstrike targeting Iranian nuclear sites.

Geopolitical risks pushed Brent futures close to $80 per barrel. However, prices later dropped below $60 and have since stabilised.

Analysts believe the increase in production is driven more by strategic interests, particularly among Gulf producers such as Saudi Arabia, than by political pressure. In April, US President Donald Trump called for lower oil prices to support the American economy.

Earlier, Kursiv Uzbekistan reported on a decline in oil output and fuel production in Uzbekistan.