According to four sources, seven core OPEC+ member countries are likely to slightly raise their July production targets at the June 7 meeting, with an increase of about 188k barrels per day. After the UAE's withdrawal in May, monthly production increases have continued but at a slower pace. Analysts believe that the UAE's exit weakens market influence but benefits internal cohesion. Additionally, two more meetings are expected to make no policy adjustments.

MarsBitNews

2026-05-21 14:56:32

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Mars Finance News, on May 21, four sources said that seven major OPEC+ oil-producing countries are likely to agree to slightly increase their production targets for July at the meeting on June 7, despite some countries' supplies still being affected by the Iran war. The sources said that the monthly production targets set by these seven core OPEC+ members are expected to be raised by about 188k barrels per day. In the first quarter of 2026, OPEC+ maintained stable production, but since April, despite the ongoing war, the organization has been increasing its monthly production targets. However, since the UAE's withdrawal from the organization in May, the monthly increase has been reduced. Analysts and representatives believe that although the UAE's exit has weakened the organization's influence on the market, it may strengthen internal cohesion. Additionally, sources said that the other two OPEC+ meetings scheduled for June 7 are not expected to make any policy adjustments.

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ZenOfZK

· 6h ago

The term "core member country" is used brilliantly, directly kicking the United Arab Emirates out of the group chat.

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GateUser-047cb6fc

· 7h ago

The meeting on June 7th, the market is going to fluctuate again.

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AutumnSlopePath

· 7h ago

Monthly increased production is still ongoing, just easing up on the throttle a bit.

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GateUser-4bd1cc87

· 7h ago

The analyst is right; with fewer people, it's easier to manage, but the voice power is indeed smaller.

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PerpNightRunner

· 7h ago

July targets have been raised; the peak season for summer driving has arrived.

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SlippageSailor

· 7h ago

Slight increase in production + slowing down the pace, the balancing act of seasoned veterans

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BlackGoldMechanicalHand

· 7h ago

The two meetings remain unchanged, indicating that they are also watching the trend of oil prices.

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FrictionlessFred

· 7h ago

This wave of UAE's withdrawal is quite interesting; on the surface, it weakens OPEC, but internally, it actually makes them more united?

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Sources: Despite navigation restrictions in the Strait of Hormuz, OPEC+ still plans to increase July oil production targets

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