OPEC oil output rises further in July led by Gulf producers, Reuters survey shows

In July, OPEC made a remarkable recovery by increasing oil production to 19.85 million barrels per day. Gulf nations resumed supplies that were previously disrupted, while Iraq reported significant production gains. Iran also managed to increase its exports, though a U.S. blockade eventually hampered shipments. Meanwhile, Libya continued to pump oil without being affected by regional conflicts, marking a recovery from the lowest production levels in May since 2000.