OPEC+ leaders expected to raise July oil output target by 188,000 bpd
OPEC+ is set to increase its oil output target for July by 188,000 barrels per day. This decision comes as Gulf supply has significantly decreased due to the closure of the Strait of Hormuz. The planned increase may be challenging to achieve given the current disruptions in the region.
- ▪OPEC+ will formalize the production increase at a meeting on June 7.
- ▪Seven core OPEC+ members are expected to approve the increase.
- ▪The Strait of Hormuz closure has reduced Gulf supply by nearly 10 million barrels per day.
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OPEC+ leaders expected to raise July oil output target by 188,000 bpd The planned production bump lands during a period when Gulf supply has already cratered by nearly 10 million barrels per day due to the Strait of Hormuz closure. Share Add us on Google by Editorial Team May. 21, 2026 (function () { var s = document.currentScript; var wrapper = s && s.closest ? s.closest('.cb-sevioads-inarticle') : null; var inMobile = wrapper && wrapper.closest('#mobile-articles'); var inDesktop = wrapper && wrapper.closest('#desktop-articles'); if (inMobile || inDesktop) { var isDesktopVp = window.matchMedia('(min-width: 768px)').matches; var matches = (inMobile && !isDesktopVp) || (inDesktop && isDesktopVp); if (!matches) { var sevioDiv = wrapper.querySelector('.sevioads'); if (sevioDiv)…
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