# @cgtneurope on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/DM6KmsIBTH9
- **Gondola URL:** https://gondola.cc/posts/33013028-cgtneurope-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/8acd9acf45.jpg
- **Posted:** 2025-08-03T22:00:11.000+00:00
- **Account Owner:** CGTN Europe (@cgtneurope) — https://gondola.cc/cgtneurope

## Caption

Eight OPEC+ Countries to Boost Oil Output by 547,000 Barrels a Day⁣
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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.⁣
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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.⁣
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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.⁣
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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 could be more difficult as geopolitical risks persist.⁣
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The eight producers will meet monthly to reassess market conditions. The statement left open the possibility of pausing or reversing future increases depending on global demand trends.⁣
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#OPEC #OilMarkets #CrudeOil #SaudiArabia #Russia #EnergyUpdate #GlobalEconomy⁣

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## Tags

oilmarkets, saudiarabia, russia, globaleconomy, crudeoil, opec, energyupdate

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