OPEC+ has approved an increase in oil production quotas, adding approximately 188,000 barrels per day to the group's output targets starting in August.
The decision marks a significant shift in strategy as exports through the Strait of Hormuz begin to recover from recent disruptions.
The seven core members of the alliance have also raised their quotas from April through July by nearly 800,000 bpd, accelerating the return of supply to global markets.
Oil prices fell following the announcement, reflecting market relief that the geopolitical premium on shipping risks is receding.
The move suggests that producers are confident enough in the security of key trade routes to prioritize volume growth over supply restraint.
This repricing of risk is likely to persist as long as tanker traffic through the chokepoint remains uninterrupted.