Eight OPEC+ Countries to Boost Oil Output by 547,000 Barrels a Day⁣ ⁣ Eight key OPEC+ producers announced on Sunday that they will raise oil output by 547,000 barrels per day starting in September, marking another step in the group’s gradual reversal of pandemic-era production cuts.⁣ ⁣ The countries—Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman—currently produce around 41–42 million barrels daily. The new increase amounts to roughly 1.5% of current output.⁣ ⁣ According to a statement released after the latest OPEC+ meeting, the decision reflects "healthy oil market fundamentals" and a stable global economic outlook. Brent crude remains steady at around $70 per barrel, with analysts expecting little immediate impact on prices.⁣ ⁣ The move continues a phased unwinding of 2.2 million barrels per day in voluntary cuts that began in April. Analysts say OPEC+ has so far succeeded in easing restrictions without destabilizing markets—but warn that future decisions coul...