OPEC+ is expected to approve another increase in oil production quotas for August, adding approximately 188,000 barrels per day to the group's output targets.
The move continues the alliance's gradual unwind of voluntary production cuts implemented earlier in the year, aiming to restore market share and stabilize global supply flows.
Brent crude prices held steady in the session, reflecting a balance between the incremental supply increase and persistent geopolitical risks.
Traders are weighing the predictable nature of the quota hike against ongoing tensions in the Middle East, which continue to pose a threat to shipping routes and energy infrastructure.
The August adjustment follows a significant increase in July quotas, which were set at 30.633 million barrels per day, up 1.085 million barrels from June levels.
The latest step-up applies to key members including Saudi Arabia and the United Arab Emirates, as the group seeks to manage inventory levels and respond to demand signals.