OPEC+ to Raise Daily Output by 188,000 Barrels in July & Its Impact on the Chemical Additive Industry
Release time:
Jun 09,2026
OPEC+ has agreed to further increase crude oil production in July.
Seven OPEC+ member states, including Saudi Arabia and Russia, held an online meeting on the 7th. According to the post-meeting statement, in an effort to maintain stability in the global oil market, the group decided to raise its crude oil production target by 188,000 barrels per day for July. This marks the fourth consecutive month of production increases. The next OPEC+ meeting is scheduled for July 5.
Market analysts point out that as the Strait of Hormuz remains closed, OPEC+ members face severe constraints on crude oil delivery capacity. Therefore, this round of output increase is largely symbolic rather than substantive in easing market supply tension.
Since April, OPEC+ has raised its daily production quota by approximately 600,000 barrels. However, official OPEC data shows the group’s average daily crude oil output dropped to 33.19 million barrels in April, a 22% decrease compared with February.
The phased production increase by OPEC+ generates indirect transmission effects on the chemical additive industry. As crude oil serves as the core upstream raw material for chemical additives, the expected output expansion has eased market concerns over raw material shortages and curbed the upward price momentum of crude oil and downstream basic chemical materials. This provides favorable conditions for manufacturers of water-based functional additives such as water-based silicone emulsion and stearamide emulsion to stabilize raw material procurement costs and product pricing.
Nevertheless, restricted navigation in the Strait of Hormuz and insufficient actual delivery capacity mean there is no substantive improvement in short-term spot crude oil supply. Raw material prices will remain volatile at high levels, leaving limited room for cost reduction in the additive industry. In the long run, OPEC+’s sustained production adjustment will gradually optimize the supply and demand structure of chemical raw materials and stabilize the supply chain for the additive industry. This will support manufacturers in achieving stable mass production and consistent product batch quality. Meanwhile, it will intensify market competition for homogeneous products, forcing the industry to upgrade toward high-stability, eco-friendly, multi-functional and refined chemical additives.
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Guangzhou Zhenghao New Material Technology Co., Ltd. is a production and processing enterprise led by the production and research and development of water-based lotion environmental protection additives. The company is located in Huachuang Industrial Park, Xiancun Town, Zengcheng District, Guangzhou, as a new enterprise supported by the state.
