Source: Insider According to sources: OPEC+ may further increase its production target by around 188,000 barrels per day starting from July.

June 7 — According to CNBC, which cited three OPEC+ sources, the group is set to approve raising its oil production targets for the fourth time in just a few months this Sunday, even as the ongoing U.S.-Iran war keeps several OPEC+ members from boosting output. Seven core OPEC+ members already increased their production quotas by nearly 600,000 barrels per day (bpd) between April and June. However, actual production has fallen sharply due to export cuts from Gulf region members. OPEC data shows average production hit 33.19 million bpd in April, down from 42.77 million bpd in February. Sources say those same seven members will likely vote this Sunday to lift production targets by roughly 188,000 bpd starting in July—matching the size of the June increase.