The seven countries met virtually on 2 August and decided a further adjustment of 188,000 barrels a day for September, the sixth consecutive monthly step (OPEC press release, 2 Aug 2026).
Resolves YES if the press release published at opec.org after the seven participating countries' August 2026 meeting announces a September 2026 production level above the August level. If opec.org has not published within 48 hours of the meeting, the decision as reported by at least two of Reuters, Al Jazeera and BBC News suffices.
We looked at four big oil supply shocks since 1991. In each one the lost oil later started to come back. We asked how fast the price then fell back to where it was before the shock. The record is split. Twice the extra price caused by the crisis was gone within weeks. Twice it stayed for months or more, because the lost oil never fully came back.