OPEC+ likely to raise oil output targets from September again, sources say

OPEC+ is likely to agree to a further hike in output targets starting in September, with a meeting on Aug. 2, per three sources. However, the U.S.-Iran conflict is again constraining some members’ ability to pump more, adding supply uncertainty. This combination is likely to influence oil prices and broader energy-market sentiment ahead of the formal decision.

Analysis

OPEC+ is likely to agree to a further hike in output targets starting in September, with a meeting on Aug. 2, per three sources. However, the U.S.-Iran conflict is again constraining some members’ ability to pump more, adding supply uncertainty. This combination is likely to influence oil prices and broader energy-market sentiment ahead of the formal decision.