OPEC+ set to approve another oil output increase, sources say
Corroborated by 3 sources from 3 publishers
TL;DR
Reports differ across sources; according to cnbc.com, oPEC+ is set to agree on Sunday to another increase in output targets from August, sources with knowledge of the matter said, adding to global supply amid falling oil prices due to a gradual reopening of the Strait of Hormuz for oil exports.
Sources
1
Investing.com News
https://www.investing.com/news/economy-news/opec-expected-to-approve-another-oil-output-increase-for-august-4775413
2
Bloomberg Markets
https://www.bloomberg.com/news/articles/2026-07-05/opec-agrees-another-modest-oil-output-quota-hike-for-august
3
Investing.com News
https://www.investing.com/news/commodities-news/opec-set-to-approve-another-oil-output-increase-sources-say-4775414
4
CNBC 100727362
https://www.cnbc.com/2026/07/05/opec-set-to-approve-another-oil-output-increase.html
5
Investing.com News
https://www.investing.com/news/commodities-news/opec-adds-188000-bpd-to-august-quota-as-gulf-flows-resume-4775453