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OPEC Crude Oil Production Surges 2.34M Barrels Per Day in June Amid U.S.-Iran Peace Deal

2026-07-03 14:41:49

According to Bloomberg, OPEC crude oil production increased by 2.34 million barrels per day in June to 18.75 million bpd, driven by supply restorations following a U.S.-Iran peace agreement that reopened Persian Gulf exports through the Strait of Hormuz. Kuwait, Saudi Arabia, and Iran accounted for the majority of the production gains.

Excluding the impact of the UAE's departure from the organization, OPEC's June output remained 7.3 million barrels per day below February levels, representing a 28 percent decline.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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