OPEC production jumps in June with recovery of oil flows through Hormuz
OPEC production jumps in June with recovery of oil flows through Hormuz
July 4, 2026 - 12:59 | Last updated July 4, 2026 - 12:59
Resumption of exports boosts oil production (traded)
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A survey conducted by Bloomberg showed a jump in crude oil production by the Organization of the Petroleum Exporting Countries (OPEC) in June, supported by the resumption of exports through the Strait of Hormuz following the peace agreement between the United States and Iran.
The survey revealed that total production of the organization's member countries increased by 2.34 million barrels per day to 18.75 million barrels per day last month, but this is still about 7.3 million barrels per day, or 28%, lower than pre-war levels.
Investors are awaiting an online meeting scheduled for next Sunday by the OPEC+ alliance, where members are expected to discuss increasing the August production ceiling by about 188,000 barrels per day.
OPEC oil production
Original source: Okaz
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