OPEC+ Raises August Output by 188,000 Barrels a Day as Persian Gulf Exports Through the Strait of Hormuz Top 10 Million Barrels (Sunday, July 5, 2026)

OPEC+ raised its August oil output today, Sunday, July the fifth. Seven core OPEC+ producers agreed at a virtual meeting on new production levels for August. Their combined output will rise by one hundred eighty eight thousand barrels per day. This move continues a rollback that began in April, unwinding a twenty twenty three production cut. Saudi Arabia and Russia each added sixty two thousand barrels, with Iraq, Kuwait and Kazakhstan adding smaller shares. Meanwhile, Qatari and Pakistani mediators keep shuttling between Iranian and American negotiators in Doha. Until the Strait of Hormuz reopened, many of these announced increases were not actually being exported. Brent trades near seventy two dollars and West Texas Intermediate near sixty nine dollars a barrel. That is roughly forty three percent below the wartime peak of over one hundred twenty dollars. President Donald Trump said Iran US talks are, quote, going well. From this week's Doha meetings to today's OPEC+ decision, the oil market's path is easy to trace. In the days ahead, watch the gap between announced quotas and real exports through the Strait of Hormuz. Read the full analysis on Sahmino.