OPEC+ is set to approve another increase in oil production quotas for August, adding approximately 188,000 barrels per day to the group's output targets.
The decision, which insiders say will be finalized on Sunday, continues the alliance's gradual unwind of voluntary production cuts.
The move signals that Gulf producers are increasingly confident that shipping risks in key trade corridors are easing.
With tanker routes stabilizing and insurance premiums moderating, the cartel sees an opportunity to recapture market share without triggering a supply glut.
This incremental approach allows OPEC+ to test market absorption while maintaining leverage over non-compliant producers.
Brent crude prices have softened in recent sessions as traders digest the prospect of additional supply.