OPEC+ has agreed to another boost in oil production for July, increasing output targets by 188,000 barrels per day, despite ongoing supply disruptions linked to tensions between the U.S. and Iran and lower exports through the Strait of Hormuz.

The decision was announced in a statement following the cartel’s virtual meeting on Sunday.

It marks the fourth straight monthly production increase by the alliance as it continues to gradually roll back voluntary output cuts introduced in 2023 to stabilise the global oil market.

The latest decision comes at a time when actual OPEC+ output remains well below official quotas, as several major producers continue to face constraints from geopolitical tensions and logistical challenges across the Middle East.

In a statement released after Sunday’s meeting, the seven participating OPEC+ countries agreed to raise production by 188,000 barrels per day (bpd) starting in July 2026, as part of a gradual rollback of voluntary output cuts first introduced in April 2023.

The group also noted that the additional voluntary adjustments “may be returned in part or in full subject to evolving market conditions and in a gradual manner.”

OPEC+ also said member countries will continue to closely monitor market conditions and maintain the flexibility to increase, pause, or reverse production adjustments if required.

“The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to increase, pause or reverse the phase out of the voluntary production adjustments,” the statement read.

The July increase matches the production hike approved for June, but is lower than the 206,000 bpd monthly increases recorded in April and May following the exit of the OPEC+ group by the United Arab Emirates.