OPEC+ Announces 188,000 Barrels-per-Day Output Increase in First Meeting Without UAE
OPEC+ has agreed to increase oil output by 188,000 barrels per day in June, marking its first meeting without the UAE, which left the group on May 1. The increase is slightly less than the 206,000 bpd hike announced in May. The decision comes amid ongoing disruptions in oil exports due to the Iran conflict.
Topics: global oil market Iran conflict oil prices oil production OPEC+