OPEC+ output rose by 903,000 barrels per day in September — Asharq Al-Awsat
In a report from Vienna, Austria, Asharq Al-Awsat writes that OPEC+ countries produced an average of 39.068 million barrels of oil per day in September 2026. This was 903,000 barrels more than in August, according to OPEC's monthly report. The increase occurred despite disruptions to oil transportation through the Strait of Hormuz, which OPEC linked to the war with Iran.
Saudi Arabia increased production
OPEC member countries increased production by approximately 920,000 barrels per day, to 25.097 million barrels. At the same time, production by countries outside OPEC that participate in the OPEC+ agreement fell by approximately 18,000 barrels per day.
Saudi Arabia posted the largest production increase. According to data provided by the kingdom, its output rose from 6.238 million barrels per day in August to 8.372 million in September — by more than 2 million barrels. Saudi Aramco also increased oil shipments from export terminals in the Persian Gulf in September after an attack on the East-West pipeline disrupted supplies through the Red Sea.
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Demand forecast for 2027 raised
OPEC raised its forecast for global oil demand growth in 2027 from 2.36 million to 2.55 million barrels per day. The organization expects average global demand to reach 108.3 million barrels per day, with the replenishment of stocks depleted by wartime supply disruptions among the factors driving growth.
At the same time, OPEC lowered its forecast for demand growth in 2026 for the sixth consecutive month — from approximately 380,000 to 180,000 barrels per day. Demand in countries of the Organisation for Economic Co-operation and Development is forecast to decline by approximately 210,000 barrels per day this year, while demand in non-OECD countries will rise by 390,000 barrels.
Production in the Russian Federation, an aggressor state, fell by 38,000 barrels per day in September, to 8.643 million barrels. In Kazakhstan, by contrast, production increased by 22,000 barrels per day, to 1.851 million.
