OPEC+ raises August output by 188,000 bpd amid Hormuz shipping rebound
OPEC+ approved an increase of 188,000 barrels per day in August oil output targets at a virtual meeting on Sunday, July 5, 2026. The move impacts OPEC+ members including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
The hike extends a sequence of monthly quota increases begun in April as Gulf shipments resume through the Strait of Hormuz, pushing Brent crude toward $72 a barrel and WTI below $69.
The 188,000‑bpd boost adds to global supply, helping ease Brent crude to about $72 per barrel and WTI to stay under $69.
OPEC+ said the decision reflects a controlled restoration of supply now that shipping lanes in the Strait of Hormuz are partially reopened and that crude prices have retreated from wartime peaks. The group also noted that the increase continues a gradual unwinding of the voluntary output cuts that were introduced in 2023.
Members will implement the additional output in August while monitoring market signals. OPEC+ retained the flexibility to pause or reverse the upward trend if price weakness re‑emerges, underscoring a cautious approach despite the current easing.
The virtual session also confirmed that the monthly adjustments will proceed through the remainder of the year, subject to ongoing assessment of demand and price dynamics.
This follows April’s initial OPEC+ decision to lift output, which marked the start of the current upward trend.
