OPEC+ to Agree on Oil Output Hike Without UAE Participation
OPEC+ is expected to agree on another oil output increase, but without the UAE, which has exited the group. The increase will be adjusted to account for the UAE's 18,000 bpd share. However, production increases may be limited due to the closure of the Strait of Hormuz caused by the U.S.-Israeli war with Iran.
Topics: global oil market oil production OPEC+ Strait of Hormuz UAE exit