
OPEC+ announces symbolic oil output rise during Strait of Hormuz closure
The decision by OPEC+ to increase oil output is significant as it reflects the group's strategy to stabilize the oil market amidst geopolitical tensions affecting supply routes.
- OPEC+ announces a symbolic oil output increase for June
- Increase is 188,000 barrels per day
- Disruption in Gulf supplies due to US-Israel war on Iran





