OPEC oil production rose further in July, continuing a recovery from historically low output levels caused by the Iran war and the effective closure of the Strait of Hormuz, according to a Reuters survey published on August 10, 2026. Output by the 11-member Organization of the Petroleum Exporting Countries increased by 1.17 million barrels per day month-on-month to reach 19.85 million bpd, the survey found. The figures exclude the United Arab Emirates, which quit OPEC on May 1.
The July increase extended a rebound from May, which had marked the lowest monthly output figure recorded by Reuters surveys since at least the year 2000, a level described as falling well below even the depressed production seen during the COVID-19 pandemic in 2020, when global demand collapsed. Iraq registered the largest production increase among OPEC members in July, followed by Kuwait. Iran also managed to boost exports during the month, although the resumption of a U.S. blockade on Iranian ports in mid-July subsequently slowed shipments once again.
Saudi Arabian supply was slightly lower month-on-month, the survey found. Libya, whose shipments remain unaffected by the U.S.-Israeli war with Iran, also increased its output during the period. Despite the month-on-month improvement, OPEC output remains well below formal production quotas.
Seven members of the broader OPEC+ producer group, which includes allied non-OPEC nations such as Russia, had agreed to increase production in July, but the ongoing Middle East conflict rendered those planned increases unachievable. The Reuters survey was compiled using flow data from financial group LSEG, information from cargo-tracking companies including Kpler, and data provided by sources at oil companies, OPEC, and industry consultants. The article was reported by Alex Lawler with additional reporting by Ahmad Ghaddar.
Source: reuters.com