OPEC+ approved a 547,000 barrel-per-day increase, reversing its 2023 supply cuts ahead of schedule to regain market share. A large portion of 1.66 million barrels per day remains offline until late 2026, with no clear plans for its future. Following the announcement, Brent crude prices declined slightly, indicating a muted market reaction as global supplies increase and demand forecasts weaken. The group will reassess output policies in September amid ongoing geopolitical and economic uncertainties.