New Delhi, June 7 -- Seven OPEC+ countries have announced a second consecutive monthly increase in oil production, agreeing to raise output by 188,000 barrels per day (bpd) in July 2026 after approving an identical increase for June last month, as the group continues its gradual easing of voluntary supply cuts.

The decision was taken during a virtual meeting of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman on Sunday to review global market conditions and outlook.

Announcing the move, OPEC said the countries had decided to "implement a production adjustment of 188 thousand barrels per day from the additional voluntary adjustments announced in April 2023."

According to the production schedule released by the group, Sau...