OPEC+ agrees symbolic output hike

In a bid to stabilize global energy markets, OPEC+ has announced an output increase of 206,000 barrels per day.

However, analysts warn that the actual impact on supply will be minimal given the effective closure of the Strait of Hormuz.

The decision comes amid reports of Iranian drone strikes on Kuwaiti oil infrastructure, further complicating the regional energy landscape.

While the quota hike aims to signal cooperation, the persistent war continues to drive volatility and supply risk for international buyers.