Saudi Arabia, Russia, Algeria, Iraq, Kuwait, Oman and Kazakhstan raised their combined oil production quota by 188,000 barrels per day for June during an online OPEC+ meeting on Sunday. The decision was framed as a continuation of the group's commitment to stabilizing global oil markets, with no reference to the United Arab Emirates' recent exit from the alliance.

The UAE, a major oil producer, formally left OPEC+ on Friday after announcing its withdrawal on April 28, citing disagreements over production quotas. Despite the departure, the remaining members proceeded with the planned output increase, which aligns with prior monthly adjustments made in March and April, excluding the UAE's share.

Actual production is unlikely to match the raised quotas due to ongoing disruptions in the Gulf, where the Strait of Hormuz remains blockaded by Iran following U.S.-Israeli military strikes that began February 28. Analysts note that while the increase is symbolic, physical supply constraints severely limit its market impact.

The OPEC+ group did not announce any structural changes or comment on the UAE's departure in its official statement. The next scheduled meeting will determine further production levels, with market observers watching for adjustments in response to regional supply constraints.