OPEC+ raises June oil output amid Strait of Hormuz blockade

2 min readUpdated May 4, 2026

Seven countries in the OPEC+ alliance agreed Sunday to raise oil production by 188,000 barrels per day in June, the group's first output decision since the United Arab Emirates departed the cartel.

The participating countries — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman — said the move reflects their commitment to market stability. The June increase is slightly smaller than the 206,000-barrel-per-day hike implemented in May, a figure that had included the UAE's share before its exit, according to CNBC.

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Oil prices have climbed sharply since the start of 2026. On Friday, West Texas Intermediate settled at $101.94 per barrel, a drop of 3%, and Brent crude ended the session down nearly 2% at $108.17. Each benchmark has roughly doubled in value compared to where it traded at the beginning of 2026, with gains of nearly 78%. The Friday declines followed reports that Iran had sent an updated peace proposal to mediators in Pakistan.

Trump acknowledged Saturday that he had heard the broad outline of a potential agreement but said he had not yet seen the precise language; he added that airstrikes had not been ruled out should Tehran fail to follow through, according to CNBC. According to Reuters, an Iranian official described a proposal that would restore commercial shipping through the Strait of Hormuz and lift the U.S. blockade on Iran, with any discussion of Tehran's nuclear activities deferred to future negotiations.

The OPEC+ meeting was the first since the UAE announced its departure from the cartel effective May 1. Before leaving, the UAE ranked third among OPEC producers, trailing only Saudi Arabia and Iraq; its departure has unsettled a cartel that has been operating for six and a half decades and is responsible for roughly four in every ten barrels of crude produced worldwide. The UAE said, after its exit, that it intends to bring additional production to market, though it is uncertain whether that supply can reach buyers while the Strait of Hormuz remains blocked.

Iran's strikes on the UAE in the weeks before the departure, combined with the Hormuz closure that has choked off much of Abu Dhabi's export capacity, added urgency to the UAE's decision to leave. Tensions between the UAE and Saudi Arabia over production policy had also strained the relationship for years.

Going forward, the seven participating countries have committed to gathering each month, with their next session set for June 7.

OPEC+ is raising oil output by 188,000 barrels per day in June — but the Strait of Hormuz blockade makes it largely symbolic

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