Key facts
- OPEC oil output fell by 640,000 barrels a day in August.
- Total OPEC output in August was 19.71 million bpd.
OPEC oil output fell 640,000 barrels a day in August
IN SHORT
OPEC oil output decreased by 640,000 barrels per day in August, reaching 19.71 million bpd. Disruptions to Saudi exports due to the Iran conflict and U.S. sanctions on Iran hindered an agreed-upon production increase. The group also lowered its 2026 global oil demand growth forecast.
Key Numbers
19.71 million bpdOPEC oil output in August
640,000 bpdMonth-on-month fall in OPEC oil output in August
380,000 bpdOPEC's forecast for 2026 global oil demand growth
Who's Involved
OPEC
oil output fell by 640,000 barrels a day in August
Saudi
exports faced new disruption due to the war in Iran
Iran
shipments cut by U.S. blockade
OPEC+
producer group agreed to increase production in August
↳ Why This Matters
The reduction in OPEC output impacts global oil supply and prices, while revised demand forecasts signal potential shifts in market dynamics for 2026.