Despite the obstruction of navigation in the Strait of Hormuz, OPEC+still plans to increase its July oil production target According to BlockBeats, on May 21st, four sources said that the seven major OPEC+oil producing countries are likely to agree to a slight increase in their production targets for July when they meet on June 7th, although supply from several of these countries is still hindered by the Iran war. Sources say that the monthly production targets set by these seven OPEC+core member countries are expected to be raised by about 188000 barrels per day. In the first quarter of 2026, OPEC+maintained unchanged production, but since April, despite the ongoing war, the organization has raised its monthly production targets. But since the UAE withdrew from the organization in May, the monthly increase in production has been reduced. Analysts and representatives believe that while the UAE's exit has weakened the organization's influence in the market, it may enhance its internal cohesion. In addition, sources say that the other two OPEC+meetings scheduled for June 7th are not expected to make any policy adjustments.