Ministers from the Opec+ ‘Group of Eight’ agreed to unwind the final portion of their 2.2mn b/d voluntary cuts (2.5mn b/d including the UAE’s 300,000 b/d unilateral uplift) during another quick meeting on 3 August (see chart 1 and table). The decision to lift quotas by a combined 547,000 b/d was widely expected after the group had agreed to accelerate the process the previous month (MEES, 11 July).