The Globe and Mail reports in its Monday edition that OPEC+ has agreed to a further increase in output targets from August, the group said in a statement on Sunday. A Reuters dispatch to The Globe says OPEC+ agreed to increase quotas by 188,000 barrels a day from August, on top of similar increases for June and July. The seven core members of OPEC+, which groups OPEC and allied producers including Russia, have hiked their output quotas from April through July by almost 800,000 bpd. OPEC+ output fell to 33.13 million bpd in May, from 42.77 million bpd in February. It began to recover in June thanks to U.S. efforts to help the UAE and other OPEC+ nations export more oil, but is still below prewar levels. Despite persisting supply disruptions, oil prices have returned to prewar levels, pressured by lower Chinese imports, higher exports from non-Middle East producers and a record global strategic stock release co-ordinated by the International Energy Agency. "The group of seven kept unwinding their production cuts as widely expected," UBS analyst Giovanni Staunovo said. "The near-term focus will remain on how many tankers will manage to cross the Strait of Hormuz and how quickly demand and Chinese crude imports recover."