OPEC+ has approved a further increase in its oil output targets from August, the group said in a statement, Reuters reported.

At an online meeting, OPEC+ agreed to raise quotas by 188,000 barrels per day starting in August—on top of similar quota increases for June and July. The group’s seven core members (including OPEC and allied producers such as Russia) have already boosted their output quotas from April through July by nearly 800,000 barrels per day.

However, the increases have remained “largely on paper” because disruption linked to the US–Israeli conflict involving Iran has reduced tanker traffic through the Strait of Hormuz, affecting some key OPEC+ producers including Saudi Arabia, Kuwait and Iraq.

The decision comes as oil prices have been falling amid the gradual reopening of Hormuz for exports, which is expected to ease supply constraints.