OPEC+ Set for Fourth Monthly Output Hike in July Meeting

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June 7, 2026 — OPEC+ is set to agree on Sunday to a fourth increase in oil output targets in as many months, according to three sources, as supply disruptions continue to affect several members’ ability to fully pump crude.

Supply Disruptions via Strait of Hormuz

Oil flows through the Strait of Hormuz have been disrupted, contributing to a major global supply crisis that has limited exports from key members, including Saudi Arabia.

Output Impact Despite Higher Targets

Seven core OPEC+ members increased output targets by nearly 600,000 bpd between April and June, while actual production fell sharply due to export constraints.

OPEC data shows production averaged 33.19 million bpd in April, compared with 42.77 million in February.

July Increase of 188,000 bpd Expected.

The group is expected to raise output targets by about 188,000 bpd in July, matching the June increase. This follows earlier adjustments of 206,000 bpd in April and May, which were later revised downward.

Member Participation and Meetings

The seven participating members are Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman. A series of meetings will take place on Sunday, including the Joint Ministerial Monitoring Committee.