OPEC+ set to roll back large-scale oil production cuts in September — Reuters

Reuters sources report that OPEC+ is set to boost oil production by 550,000 barrels per day in September. This will mark the final step in phasing out previous voluntary cuts. The group initially implemented these measures to prop up prices, but members have now agreed to ramp up output to higher levels.

For years, OPEC+ had been cutting production, but in 2025 the group has shifted course, opting to increase output to strengthen its market position. The decision also comes amid pressure from US President Donald Trump, who has repeatedly urged the alliance to boost supply in order to bring down gasoline prices.

Between April and September, the total production increase will reach approximately 2.47 million barrels per day, which is equivalent to about 2.5% of global oil demand. During this period, Saudi Arabia's output is expected to grow to around 10 million barrels per day, while the United Arab Emirates will raise production to 3.375 million barrels per day.

Meanwhile, OPEC+ is keeping in place additional cuts totaling 3.66 million barrels per day, with these measures set to last until December 2026.