OPEC+ struggled to raise output in July, missing production targets by nearly 3 million barrels a day, report says

According to a report, the group missed its production targets by nearly 3 million barrels a day.

According to a report from the news agency, two sources from the organization said that the organization fell short of its production goals in July. In June, when the group missed its production target, it was more of a fallback than it is today.

Western nations have pleaded with the organization for more oil, but experts think the organization can't do much to lower energy prices. The organization agreed to raise 100,000 barrels per day in September.

Last week, the new leader of the group said that under investment in the energy sector was to blame for the high prices.

The remaining capacity of the group is estimated to be around 1 million barrels per day, the smallest in 20 years. Most of the extra capacity would likely be located in Saudi Arabia or the U.A.

Iran could export another 1 million barrels a day on the global market if the US and Iran revive the 2015 nuclear deal. Analysts don't think that will happen soon.