OPEC+ Agrees to Boost Oil Output When Strait of Hormuz Reopens
Summary OPEC+ eight members to raise quotas by 206,000 bpd for May US-Iran war largely shuts oil traffic via Strait of Hormuz War leads to worst ever oil supply disruption Tanker loaded with Iraqi…
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OPEC+ agrees to 188,000 bpd output increase for August as Strait of Hormuz reopens
OPEC+, which groups OPEC and allied producers including Russia, has hiked their output quotas from April through July by almost 800,000 bp
cnbc.com·5d ago
OPEC+ agrees fresh August oil output hike as Strait of Hormuz reopens
OPEC+ is boosting oil output by another 188,000 barrels daily from August, continuing to reverse earlier cuts. Despite this, actual supply r
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The seven core members of OPEC+ agreed at a meeting on Sunday to lift quotas by 188,000 barrels per day from August, taking the total incr
Oil Surges as Iran Strikes Shatter Ceasefire Hopes, OPEC Outlook Shifts
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Strait of Hormuz reopens but 1.15 billion barrels of oil supply lost during four-month disruption
The good news: The Strait of Hormuz is open again, after Iran and the United States signed a memorandum of understanding this week.
cnn.com·21d ago
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