(FILES) The logo of the Organization of Petroleum Exporting Countries (OPEC) is seen at its headquarters in Vienna on June 3, 2023. OPEC+ ministers decided on July 5, 2026 to increase oil quotas by a total of 188,000 barrels per day for August, a similar increase to others agreed in recent months, the organisation announced. Ministers from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman held virtual talks and "decided to implement a production adjustment of 188 thousand barrels per day," an OPEC statement said, adding that "this adjustment will be implemented in August 2026". (Photo by JOE KLAMAR / AFP via Getty Images)