Oil prices fell on Monday after OPEC+ decided to raise its production target again from August, alongside the gradual recovery of oil exports via the Strait of Hormuz. Brent crude reached $71.88 per barrel, and U.S. crude was traded at $68.58. These prices are close to the levels from the day before the start of the war with the Islamic Republic; when Brent closed at $72.48 and U.S. oil at $67.02. On Sunday, OPEC+ agreed to increase its production target by another 188,000 barrels per day starting in August. With the return of exports from Saudi Arabia, Kuwait, and Iraq, the oil market is again facing the possibility of an increase in global supply.