OPEC's 11 remaining members pumped a combined 19.85 million barrels per day in July, up 1.17 million bpd from June, according to a Reuters survey published around August 10. The increase pulls the group's output well off the low it hit in May 2026, its weakest month since at least 2000.
Where the barrels came from
Gulf producers accounted for most of July's gain as supply disrupted earlier in 2026 by conflict and an effective blockade of the Strait of Hormuz came back online.
| Country | Change in July |
|---|---|
| Iraq | Largest single-country increase in the group |
| Kuwait | Contributed meaningfully to the gain |
| Libya | Contributed meaningfully to the gain |
| Saudi Arabia | Output dipped slightly from June |
The breakdown gives Markets a clearer read on how much of the output lost earlier this year can come back, and how fast.
Iran still about a quarter short
Iran's exports rose briefly as the regional conflict eased. Then, in mid-July, the United States reimposed restrictions on port activity tied to Iranian oil shipments, and that export window closed. Iran's production now sits roughly 25% below where it stood before the conflict that reshaped output across the Middle East earlier in 2026.
Quota math complicated by the UAE's exit
OPEC+ had approved a symbolic quota increase of 188,000 bpd for seven core member countries. Actual output has stayed well below what that quota math implies is possible, held back by logistical problems, damaged infrastructure, and ongoing friction in the region. OPEC now counts 11 members after the UAE's departure from the group, a change that affects how quota allocations and compensation are worked out internally.
