OPEC+ is set to finalize an increase in oil production quotas of 188,000 barrels per day starting in August, according to sources cited by The Straits Times.
The decision, expected to be confirmed on Sunday, marks a continuation of the group's gradual return to higher output levels after months of voluntary cuts.
The move underscores a shift in sentiment among Gulf producers, who appear increasingly confident that the immediate threat to regional shipping routes is diminishing.
By choosing to add supply rather than hold spare capacity in reserve, the cartel is signaling that it perceives the geopolitical risk premium in energy markets as receding.
This stance contrasts with earlier periods of heightened tension, where output restraint was used as a buffer against potential supply disruptions.
For traders, the additional 188,000 bpd represents a tangible increase in available supply, likely to weigh on Brent crude prices in the near term.