OPEC+ | Omanet

Oil prices fell on Monday as Opec+ agreed to increase output targets from August. Brent crude dropped to $71.96, while

Eight Opec+ producers agreed to raise oil production by 188,000 bpd in August, easing voluntary cuts. Saudi Arabia and Russia

Seven OPEC+ members, including Saudi Arabia and Russia, are likely to raise oil production quotas amid Middle East conflict impacts.

Iraq is considering leaving OPEC if its oil production quota is not increased, sources told Reuters. Despite planning to remain

Oman will increase its crude oil production by 5,000 bpd in July 2026, raising its ceiling to 831,000 bpd. This

Opec+ is expected to approve a fourth consecutive increase in oil production targets by around 188,000 bpd from July, despite

OPEC+ ministers meet to consider raising oil production quotas amid soaring prices caused by the Iran war blocking Gulf shipments.

Opec+ plans a third consecutive oil output hike of 188,000 bpd in June amid ongoing US-Iran conflict disrupting supply routes.

Seven OPEC+ members are set to decide on oil-production quotas following the UAE's recent withdrawal. This has heightened price pressures

The OPEC oil cartel has faced declining influence over years, exacerbated by the UAE's exit. Originally formed to stabilize oil

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