OPEC+ off-target in July
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
OPEC+ should have boosted oil production by more than 1.35m b/d by the end of July compared with its March output levels, in line with its targets. However, its actual output increase has fallen short, with production rising by only around 560,000b/d, according to Petroleum Economist estimates. This has also raised questions about its future strategy and market stability. With the high-demand summer driving season ending, OPEC+ may soon face a critical test of its production strategy. However, the Trump administration’s secondary sanctions might help reduce oversupply even if demand shows a seasonal dip. Petroleum Economist sees OPEC-9 output in July at 22.05m b/d, up from 21.87m b/d in June
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
