Sources reported that seven major countries in the "OPEC+" alliance are heading to discuss a limited increase in oil production for the month of July during their meeting on June 7, despite the continuous disruption of supplies due to the war on Iran.
The sources indicated that the targeted increase could reach about 188,000 barrels per day, while emphasizing that the final decision has not been resolved yet and that the statements were made on condition of anonymity.
According to data, the alliance maintained stable production levels during the first quarter of 2026, before beginning a gradual increase in monthly targets starting from April, even as the conflict continued. The pace of increases has also been reduced since
May, in the context of internal changes after the UAE's withdrawal from the "OPEC" organization and the "OPEC+" alliance.
Analysts and delegates believe that the UAE's withdrawal may limit the group's influence in the market, but it could contribute to enhancing the internal cohesion of the alliance.
So far, no comments have been issued by officials in OPEC, Saudi Arabia, or Russia in response to media requests.
OPEC data indicate a decline in the production of the alliance countries to 33.19 million barrels per day in April, compared to 42.77 million barrels per day in February, with a decrease in Gulf countries' production by about 9.9 million barrels per day.
Countries with spare production capacity, such as Saudi Arabia, Iraq, and Kuwait, in addition to the UAE before its withdrawal, were directly affected by the repercussions of the war.
The group of seven countries concerned with the meeting includes: Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and the Sultanate of Oman.
According to sources, the other meetings scheduled for June 7 will not witness any changes in policies, with the continuation of the production cut agreement amounting to two million barrels per day, scheduled since 2022, until the end of 2026,
despite including a partial cut linked to the UAE's previous quota in the alliance.
According to sources, the other meetings scheduled for June 7 will not witness any changes in policies, with the continuation of the production cut agreement amounting to two million barrels per day, scheduled since 2022, until the end of 2026, despite including a partial cut linked to the UAE's previous quota in the alliance.
