Sources: OPEC+ to increase production by approximately 188,000 barrels per day in July

Odaily sources indicate that three sources have stated OPEC+ oil-producing nations are very likely to agree to further increase crude oil production quotas for July during their meeting on Sunday. However, the war in Iran has so far caused some countries to fail to meet previous production increase targets. If production quotas are raised again, it will signal that the organization is gradually returning to normal operations, despite numerous disruptions such as the blockade of the Strait of Hormuz and the unexpected withdrawal of the UAE in May. According to sources, OPEC+ is expected to increase production by approximately 188,000 barrels per day in July, the same increase agreed upon for June, which was previously lowered from 206,000 barrels per day in consideration of the UAE's withdrawal. (Jinshi Data)