OPEC+ Approves Fourth Consecutive Monthly Oil Output Quota Hike
Seven core OPEC+ members agreed to increase oil output quotas by 188,000 barrels per day for July, marking the fourth consecutive monthly hike. However, analysts note that these increases are largely symbolic due to ongoing export disruptions caused by the closure of the Strait of Hormuz.
Topics: geopolitical tensions oil output OPEC+ Strait of Hormuz closure