Saudi Arabia, Russia and five other key members of OPEC+ agreed in an online meeting Sunday to boost oil production by 188,000 barrels a day from September, against a backdrop of disruption caused by the Mideast war. "The seven participating countries decided to implement a production adjustment of 188 thousand barrels per day," they said in a joint statement. The increase, decided by the key countries in the enlarged Organisation of the Petroleum Exporting Countries, was widely expected by analysts. OPEC+ "faces potentially difficult talks over new production quotas" starting next year following the September increase, according to analysts at DNB Carnegie. Between late 2022 and 2023, OPEC+ became concerned that oil prices were falling, and agreed to cut oil production in three separate rounds, reducing total output by nearly six million barrels per day.