What was the change in OPEC's crude oil production in June, and which countries drove the increase?

OPEC’s crude oil production surged by 2.34 million barrels a day to 18.75 million barrels a day in June, driven primarily by Kuwait, Saudi Arabia, and Iran. Saudi Arabia raised output by 550,000 barrels a day to 7.2 million barrels a day, while Iran increased production by 510,000 barrels a day to 2.85 million barrels a day.

How did the US-Iran peace accord affect oil exports through the Strait of Hormuz, and what was the impact on Saudi shipments?

The US-Iran peace accord allowed for more overt transit of oil through the Strait of Hormuz, enabling Persian Gulf producers—including Saudi Arabia—to restore exports after earlier restrictions. As a result, Saudi shipments reached 90% of typical rates, according to tanker-tracking data.

OPEC Output Surged in June as Hormuz Flows Jumped, Survey Shows

Jul 3, 2026

OPEC crude production rose by 2.34 million barrels per day in June as exports resumed through the Strait of Hormuz following a US-Iran accord. Rising supply amid subdued demand is creating market surpluses, pushing Brent futures near $72 per barrel.

bloomberg

2026-05-11

OPEC Oil Output Hits New Low in April Amid Hormuz Export Disruption, Reuters Survey Finds

2026-06-05

OPEC Output Plunges Further as US Squeezes Iran, Survey Shows

2026-06-10

OPEC Oil Output Lowest Since 2000 as US Blockade Squeezes Iran, Reuters Survey Shows

2026-07-03

OPEC Output Surged in June as Hormuz Flows Jumped, Survey Shows

2026-07-03

OPEC oil output jumps in June as Gulf producers begin reviving supply, Reuters survey shows