LONDON: OPEC+ is set to agree on Sunday (Jul 5) on another increase in output targets from August, sources with knowledge of the matter said, adding to global supply amid falling oil prices due to a gradual reopening of the Strait of Hormuz for oil exports.The oil producing group has agreed in principle to increase quotas by 188,000 barrels per day from August, on top of similar increases for June and July, one OPEC+ source said ahead of the group's meeting later on Sunday.Two other sources said an increase of this amount was the most likely decision as a result of the online discussion.Seven core members of OPEC+, which groups OPEC and allied producers including Russia, have increased their output quotas from April through July by almost 800,000 barrels per day.PRODUCTION BEGINS TO RECOVE