The United Arab Emirates (UAE) raised crude oil production to 3.8 million barrels per day in June, its highest level since April 2020, after quitting OPEC+ to escape quota restrictions.

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) has approved another 188,000 barrels per day (bpd) increase in oil production quotas for August 2026, continuing its phased plan to gradually restore crude supplies. 

Oil Output Hits 1.53mbpd, Highest in 11 Months   Nigeria’s crude oil production rose to 1.53 million barrels per day (mbpd) in May 2026, the highest level since July 2025, according to the latest OPEC Monthly Oil Market Report. The figure represents a 41,000 bpd increase from...

OPEC+ raised oil production quotas by 188,000 barrels per day for June, in a move analysts say was designed to project stability after the sudden withdrawal of the United Arab Emirates (UAE).

The United Arab Emirates (UAE) has announced plans to leave the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance effective May 1, 2026, citing changing global oil demand.  

OPEC+ is set to raise its oil production quota by 206,000 barrels per day (bpd) in May 2026, according to sources who spoke to Reuters.