On 7/6, the key members of the Association of Oil Exports and Allies (OPEC+) merged to increase the July production of 188,000 barrels a day. This increase is equivalent to June, but lower than April and May, due to UAE having [the group] (htttts ://nvexpress.net/uae-roi-opec-opec-5080803.html).

This is the fourth consecutive time this organization has increased its output, despite the war in the Middle East holding the production of several members. The total phase of April-6, OPEC+ increased production by nearly 70,000 barrels a day. Even so, their figures have also shown that the export of the Gulf countries only reached an average of 33,19 million barrels a day in April, dropping heavily over 440,000 barrels of February - the time of the conflict had not yet taken place.

"The OPEC+ lift of output doesn't make much sense, when the Hormuz Channel is still closed", Jorge Leon - analyst at Rystads remarked. The Hormuz Sea Channel is responsible for carrying 20% of crude oil and liquidized gas (LNG) globally before the war.

  • Representatives of the OPEC member states at a press conference in Vienna, Austria in January 2012. Image: AFP*

The price of crude world oil lit 8/6 accelerated, after Iran launched missiles into Israel, in response to the attack on Lebanon's capital capital. Brent's prices now increase $3.6% to 96,5 dollars. Prior to the conflict, the price was around 72 dollars.

OPEC+ used to reduce production from 2022 to prevent supply on the market caused [htpts/htts/vnexpresses.net/chu-de/gia/hang-hom-nay-3026] to descend. At one point, the group's cuts reached 1,65 million barrels a day.

From April 2025, the new OPEC+ production has grown, in order to reclaim the share from the opponents, like the US. According to Reuters' calculations, the amount of oil cut on the top would be fully restored if OPEC+ continued to increase production of 188,000 barrels a day in August and 9.

OPEC+ has 21 members. However, over the past few years, only major countries have been Arab Saudis, Iraq, Kuwait, Algeria, Kazakhstan, Russia, Oman, UAE as part of the production policy decision. UAE has left the organization since May.