OPEC+ raises oil output quotas amid Hormuz tensions
pre-market1 source ↓written by the desknot a recommendation
- increase in oil
- 188,000 barrels per day
OPEC+ announced a 188,000 barrels per day increase in oil output quotas for June, marking the third consecutive monthly rise. This decision comes despite ongoing disruptions in Gulf oil supplies due to the Iran conflict. Analysts suggest this move signals OPEC+'s commitment to maintaining supply stability, even after the UAE's exit from the group.
Not investment advice. For informational purposes only.