What is the expected change to the OPEC+ July oil output target, and which countries are involved in the decision?

Seven leading OPEC+ members — Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman — are expected to raise their collective July output target by about 188,000 barrels per day, according to four anonymous sources. The decision is set to be finalized at their meeting on June 7, though a final agreement has not yet been confirmed.

How has the UAE's departure from OPEC+ affected the group's output policy and market influence?

The UAE’s departure from OPEC+ has led to smaller monthly output hikes since May and reduced the group’s overall market influence, though analysts and delegates suggest it may improve internal cohesion. Additionally, the UAE’s 160,000 bpd share of the group-wide 2 million bpd cut — agreed in 2022 and scheduled to last until end-2026 — remains unassigned following its exit.

OPEC+ Leaders Expected to Increase July Oil Output Target Despite Hormuz Disruption, Sources Say

May 21, 2026

Seven OPEC+ members plan to increase July output targets by roughly 188,000 barrels per day despite war-related disruptions in the Strait of Hormuz. Production fell in April, yet the group maintains broader output cuts through the end of 2026.

reuters

2026-04-22

OPEC Downgrades Q2 Global Oil Demand Forecast

2026-04-29

OPEC+ Likely to Agree Another Oil Output Hike Without UAE, Sources Say

2026-04-29

Russia says OPEC+ will continue after UAE exit, no price war expected

2026-04-30

OPEC+ Delegates Expect Another Symbolic Supply Hike Without UAE

2026-05-02

OPEC+ Agrees in Principle on Small Output Hike