Top 10 OPEC oil producers in July as output rises to 20.91m bpd
By Eyo Nsima
The 10 leading crude oil producers among members of the Organisation of Petroleum Exporting Countries (OPEC) accounted for about 20.91 million barrels per day (bpd) in July 2026, as production increased amid disruptions to global oil supplies.
Data contained in the International Energy Agency’s (IEA) latest Oil Market Report, released Wednesday, showed that total OPEC crude oil production, including members exempt from OPEC+ production cuts, rose from 18.96 million bpd in June to 20.91 million bpd in July.
The increase came as several major producers raised output, led by Saudi Arabia, Iraq and Iran.
The IEA report ranked the top 10 OPEC producers in July as follows:
1. Saudi Arabia – 8.24 million bpd
Saudi Arabia remained OPEC’s largest oil producer, increasing output sharply from 7.34 million bpd in June to 8.24 million bpd in July.
Despite the increase, its July production was 2.11 million bpd below its implied target of 10.35 million bpd.
The country has sustainable production capacity of 12.11 million bpd, according to the IEA.
2. Iraq – 2.88 million bpd
Iraq ranked second, increasing crude production from 2.41 million bpd in June to 2.88 million bpd in July.
Its July production was 1.5 million bpd below an implied target of 4.38 million bpd, with sustainable capacity estimated at 4.87 million bpd.
3. Iran – 2.63 million bpd
Iran ranked third among OPEC producers, raising output from 2.30 million bpd in June to 2.63 million bpd in July.
Iran is exempt from the OPEC+ production cuts. The IEA estimated its sustainable production capacity at 3.8 million bpd.
4. Kuwait – 1.74 million bpd
Kuwait increased production from 1.46 million bpd in June to 1.74 million bpd in July.
The country’s sustainable production capacity was estimated at 2.88 million bpd.
5. Libya – 1.35 million bpd
Libya’s production edged up from 1.34 million bpd in June to 1.35 million bpd in July.
Like Iran, Libya is exempt from the OPEC+ production cuts. Its sustainable capacity was estimated at 1.28 million bpd.
6. Venezuela – 1.12 million bpd
Venezuela increased output from 1.08 million bpd in June to 1.12 million bpd in July.
The IEA estimated the country’s sustainable production capacity at one million bpd.
7. Nigeria – 1.44 million bpd
Nigeria ranked seventh among the OPEC producers covered by the IEA data, with production falling from 1.51 million bpd in June to 1.44 million bpd in July.
The figure was 60,000 bpd below Nigeria’s implied OPEC target of 1.50 million bpd, while sustainable capacity was estimated at 1.42 million bpd.
However, Nigeria’s upstream regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), reported July crude oil production at 1.51 million bpd and combined crude oil and condensate production at 1.67 million bpd.
8. Algeria – 970,000 bpd
Algeria’s crude production declined marginally from 980,000 bpd in June to 970,000 bpd in July.
Its implied target was one million bpd, while sustainable capacity was also estimated at one million bpd.
9. Gabon – 200,000 bpd
Gabon produced 200,000 bpd in July, down from 240,000 bpd in June.
Its July production was 20,000 bpd above its implied target of 180,000 bpd.
10. Congo – 290,000 bpd
Congo produced 290,000 bpd in July, rising from 270,000 bpd in June.
Its output was 20,000 bpd above its implied target of 280,000 bpd.
The IEA said total OPEC production increased by nearly two million barrels per day in July, even as the global oil market remained under severe pressure from geopolitical tensions and disruptions around the Strait of Hormuz.
Global oil supply rose by 2.4 million bpd to 101.5 million bpd in July but remained 6.3 million bpd below year-earlier levels, with 8.3 million bpd of Gulf output still shut in.
The agency said renewed hostilities and maritime disruptions had reduced its projection for third-quarter 2026 oil supply by 1.7 million bpd compared with its previous report.
At the same time, global oil inventories plunged by 69 million barrels in July, while the global oil balance is now expected to show a deficit of 1.8 million bpd in the third quarter.
The IEA said benchmark crude prices traded in an exceptionally wide range of almost $40 per barrel in July, with North Sea Dated crude rising by $25.67 per barrel during the month to end at $96.80 per barrel.
The agency expects global oil supply to decline by 4.3 million bpd on average in 2026 before rebounding by 8.3 million bpd in 2027 to 110.3 million bpd.
