- OPEC ministers agree to leave the cartel's oil production quotas unchanged for at least a month, until a scheduled emergency meeting July 3
- Tropical Storm Allison makes landfall on the upper-Texas coastline as a strong tropical storm and dumps large amounts of rain over Houston. The storm caused $5.5 billion in damages, making Allison the costliest tropical storm in U.S. history.
- U.S. Senator Jim Jeffords leaves the Republican Party, an act which shifts control of the United States Senate from the Republicans to the Democratic Party
- Pedro Laín Entralgo, Spanish writer, medical and humanist