OPEC+ is expected to keep its oil production policy unchanged for Mehr as it meets on Sunday.

Two sources familiar with the matter told Reuters that the group must reach agreement on new quotas before deciding on the next steps in production.

The meeting comes as the war with the Islamic Republic continues to disrupt oil exports from the Strait of Hormuz, and OPEC+’s influence over prices and market share has been limited.

In Mordad, OPEC+ approved an increase in production for Shahrivar and completed the step-by-step return of a reduction in supply of 1.65 million barrels per day that was first agreed in 2023.