Pakistan, May 4 -- Saudi Arabia, Russia and five other OPEC+ countries increased their oil production quota on Sunday in an expected move aimed at demonstrating continuity at the cartel after the shock withdrawal of the United Arab Emirates.

The seven major producers will add 188,000 barrels per day to their total production quota for June amid the price pressure unleashed by the Mideast war, as part of "their collective commitment to support oil market stability", according to a statement published by OPEC+.

The statement, following an online meeting of Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia and Saudi Arabia, made no mention of the UAE, which quit the body on Friday, three days after announcing its withdrawal.

Rystad Energy a...