What is the agreed-upon oil output increase by OPEC+ and when will it take effect?

Seven members of OPEC+ have reached an agreement in principle to raise oil output targets by around 188,000 barrels per day in June, according to Reuters' report citing unnamed sources.

How does the planned June output hike compare to the April increase, and what role does the UAE play in this adjustment?

The planned June output hike of around 188,000 barrels per day is similar to April’s hike of 206,000 barrels per day, minus the share of the UAE.

OPEC+ Agrees in Principle on Small Output Hike

May 2, 2026

Seven OPEC+ members agreed to raise oil output targets by 188,000 barrels per day in June. This follows the UAE's surprise announcement to leave the group amid supply disruptions caused by the Iran war.

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