EnergyReader · 2026-08-03 05:46

OPEC+ Adds 188,000 Barrels Per Day as Iraq-Turkey Pipeline Deal Buys Twelve Months

By EnergyReader Newsroom · August 3, 2026

OPEC+'s seven key producers approved a 188,000-barrel-per-day quota increase from September on Sunday (2026-08-02), continuing the gradual unwinding of cuts introduced between late 2022 and 2023 that had reduced combined output by nearly 6 million barrels per day. On the same day, Turkey and Iraq confirmed a one-year extension of their expired pipeline agreement, restoring up to 750,000 barrels per day of crude exports through the Ceyhan terminal on Turkey's Mediterranean coast.

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