OPEC+ tipped to raise quotas again as Middle East calms

OPEC+ tipped to raise quotas again as Middle East calms Seven OPEC+ members are likely to raise oil production quotas on Sunday as Gulf countries are reeling from the Middle East war, analysts told AFP. Saudi Arabia, Russia and five other members of the enlarged Organisation of the Petroleum Exporting Countries (OPEC+) are meeting online on Sunday to discuss quotas for August. OPEC+ will likely continue "to unwind the production cuts at the same pace like in the previous months", said Giovanni Staunovo, a commodity analyst at the Swiss bank UBS, predicting an increase of 188,000 barrels per day.