Overview

• The alliance agreed to boost September output by 547,000 barrels per day, marking the end of its largest voluntary cuts since early 2023.
• The United Arab Emirates will contribute an additional 300,000 barrels per day by the end of next month as part of the rollback.
• Oil prices slid to their lowest levels in a week on Monday as traders absorbed the implications of the expanded supply.
• Latest data from LSEG Oil Research show Asia’s crude imports fell to 25 million barrels per day in July, down from 27.88 million in June.
• OPEC+ left its future production policy flexible, reserving the right to pause or reverse output changes amid shifting demand and geopolitical risks.