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July 6, 2026
OPEC Faces Internal Strife Over Oil Production Quotas
- Iraq's oil production dropped by 75% during the war, prompting demands for increased quotas.
- OPEC+ agreed to a modest increase of 188,000 barrels per day, amid fears of oversupply.
- Saudi Arabia, less affected by the war, is cautious about ramping up production too quickly.
2 Sources
- The fight for the future of OPEC begins nowJul 6, 2026 at 9:00 AM · CNN
- OPEC+ companies slightly boosting production as oil prices slideJul 6, 2026 at 3:05 PM · The Hill