OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz
Seven countries in the OPEC+ grouping of oil-producing countries — including Saudi Arabia and Russia — say they’ve decided to a modest increase in production starting in June as part of a commitment to “market stability.”
OPEC+ agrees symbolic output hike
- OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz ABC News —
- OPEC+ countries, including Saudi Arabia and Russia, to boost oil production AP News —
- OPEC+ agrees on third oil output quota hike since Hormuz closure NY Post —
- OPEC+ hikes oil production quotas, silent on UAE pull-out Punch —
- UAE exit from OPEC+ signals structural shift, analysts warn of weaker oil prices ahead IOL —