This was rumored earlier.
The plan had been to raise output by about 430K barrels in each of July, August and September. This decision moves up the timeline by a month.
September had been the planned end date for full production, so they'll essentially be done with the deal in August now, instead of September.
There will still be some baseline numbers in place in August/September so it's not a total free-for-all but it's heading in that direction. More importantly, nearly all countries are under-producing quotas now so the real amount of oil added will be nowhere near the 648Kbpd touted.
Many of these countries tout higher potential production levels (Saudi Arabia at 11.5m bpd, for instance) but they've never achieved that for any sustained length of time.
One school of thought in the market -- and I'm sympathetic to it -- is that oil can't really take off until we see what OPEC is really capable (or not capable) of.
WTI crude oil has rebounded and is up to $115.35 now.