Three sources said on Wednesday that OPEC+ producers are set to agree at Sunday’s meeting to raise August output targets by about 188,000 bpd, matching the increases in June and July. The move would add supply as the Strait of Hormuz gradually reopens and oil prices slide. OPEC declined to comment.

2026-07-01

Three sources said on Wednesday that OPEC+ producers are set to agree at Sunday’s meeting to raise August output targets by about 188,000 bpd, matching the increases in June and July. The move would add supply as the Strait of Hormuz gradually reopens and oil prices slide. OPEC declined to comment.