OPEC+ seven countries raise output target 188,000 bpd from July

Seven OPEC+ countries agreed on June 7 to raise their output target by 188,000 barrels per day, effective in July. The move continues the gradual unwinding of the 2023 voluntary cuts. The decision was made as Gulf supply remained constrained by the Iran conflict.

• Target increase of 188,000 bpd
• Effective July 2026
• Seven participating countries