Top oil producers in the OPEC+ alliance, including Iraq, Saudi Arabia, Russia, and five others are expected to agree on a fresh increase in oil production during a virtual meeting on Saturday.

This move continues a recent shift in strategy that began in May, when eight member countries decided to raise output in a bid to regain global market share, even though prices dropped as a result. Oil has since hovered around $65 to $70 per barrel.

Analysts believe the group, known as the “Voluntary Eight,” will agree to boost production by 411,000 barrels per day in August, maintaining the same level as in previous months. Some experts say the decision is also meant to put pressure on countries like Iraq and Kazakhstan, which have failed to meet previous production targets.

Although recent tension between Iran and Israel caused a brief spike in oil prices, it’s not expected to influence this decision, as the conflict did not disrupt supply.

In reality, even with raised quotas, actual increases in production have fallen short. For instance, in May, output only went up by about 200,000 barrels per day, well below the target.

Despite this, OPEC+ is likely to proceed with the plan, pointing to strong demand and low oil inventories as justification for producing more.