Seven OPEC+ producers announced a combined 188,000 barrels-per-day production increase at a virtual meeting on Sunday, with Saudi Arabia and Russia each contributing 62,000 barrels per day. The decision continues a series of gradual reversals of 2023 cuts and takes effect in August 2026. Brent crude traded below $72 per barrel and WTI near $68 per barrel at the time of the announcement.