The group approves another production hike despite Middle East disruptions, adding to a 600,000-barrel daily increase since April.
OPEC+ members agreed to raise collective crude output by 188,000 barrels per day in July, continuing a series of increases totaling nearly 600,000 barrels daily since April. The decision comes amid ongoing geopolitical tensions in the Middle East, including blockages in the Strait of Hormuz, which have limited actual production gains.
Despite the planned hikes, many Middle Eastern producers have struggled to restore output to pre-war levels due to infrastructure constraints. Previous increases have largely remained unrealized, with supply disruptions outweighing official policy adjustments.
The move reflects OPEC+ efforts to balance market stability with production capacity, though actual output levels may not match targets due to regional instability.