Sources say that despite the disruption caused by Hormuz, OPEC+ leaders are expected to increase their July oil production target.

Four sources have said that seven of the top OPEC+ oil producing?countries are likely to agree?to a'modest increase in July production when they meet June 7th, despite the fact that delivery is still disrupted for many due to Iran's war.

Sources said that the monthly target set by seven core OPEC+ member countries is expected to increase by 188,000 barrels a day.

All spoke under the condition of anonymity, and stated that a final decision had not yet been made.

OPEC+ has maintained its output in the first quarter 2026, but it has?raised the target every month since April despite the conflict.

Since May, the size of the monthly increases has been reduced after United Arab Emirates departed the group.

Analysts and delegates say that the departure of this group 'decreases its power over a market, but could boost its internal cohesion.

Neither OPEC nor Saudi or Russian officials responded to our requests for comment.

OPEC data shows that the production of oil by OPEC+ dropped from 42.77 to 33.19 millions bpd per day in April.

The Gulf producers' output fell by 9.9 million barrels per day.

The war has had a significant impact on the UAE, Saudi Arabia, Iraq, and Kuwait.

Saudi Arabia, Iraq Kuwait, Algeria Kazakhstan,?Russia and Oman are the seven members of OPEC+ due to meet.

Sources said that two other OPEC+ meetings also scheduled for June 7 will not result in any policy changes.

The group's 2 million bpd output?cut?agreed upon in 2022 will remain in place until 2026. This included a 160,000 bpd cut attributed to the UAE, which is now gone. Yousef SABA in Dubai contributed additional reporting; Alex Lawler, Jason Neely edited the article.

(source: Reuters)