OPEC and UAE crude production rises 7.5% in July

In July 2023, oil production by the eleven OPEC countries and the United Arab Emirates increased by 7.5%, reaching 23.63 million barrels per day, according to the monthly report from the Organization of the Petroleum Exporting Countries (OPEC). Despite this increase compared to June, production remains below the levels that were in place before the onset of the war in Ukraine.

The data, confirmed by independent observers, indicate that while there has been growth in crude extraction, OPEC still faces challenges in reaching pre-conflict levels.