OPEC+ has rescheduled a critical video-conference to determine July oil production levels for eight key members, moving it forward by one day to May 31, according to delegates.

The decision follows preliminary discussions last week, where the sub-group, led by Saudi Arabia and Russia, explored a third consecutive monthly output increase of approximately 411,000 barrels per day, according to Bloomberg.

The schedule change, attributed to logistical adjustments, reflects the coalition’s growing reliance on virtual meetings, a shift from traditional in-person gatherings at its Vienna headquarters.

One delegate, speaking anonymously, emphasized that the adjustment was purely for scheduling convenience.

OPEC+’s recent moves have roiled global oil markets.

In early April, the alliance’s decision to ramp up supplies at triple the planned rate drove crude prices to a four-year low below $60 per barrel.

A subsequent increase planned for June further pressured markets, though crude futures have since rebounded to around $65.

These aggressive supply hikes, amid weakening demand and concerns over U.S. trade policies under President Donald Trump, have caught traders off guard, marking a sharp departure from OPEC+’s historical efforts to stabilize oil prices.

The full 22-nation OPEC+ alliance is also set to convene virtually on May 28 to review group-wide output quotas, which form the backbone of its current supply strategy