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OPEC+ agrees modest output increase amid Strait of Hormuz crisis
LONDON: Eight members of OPEC+ agreed on Sunday to raise their oil output quotas by 206,000 barrels per day for May, the group said after a virtual meeting. The war has effectively shut the Strait of Hormuz — the world’s most important oil route — since the end of February and cut exports from OPEC+ members Saudi Arabia, the UAE, Kuwait and Iraq, the only countries in the group which were able to significantly raise production even before the conflict began.
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cnbc.com
OPEC+ debates making oil output hike amid Iran war paralysis, sources say
OPEC+ may approve an oil output increase, despite the fact that its key members are unable to actually raise production due to the U.S.-Israeli war with Iran.
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theguardian.com
Iranian drone strikes hit Kuwait’s oil infrastructure before Opec+ supply talks
Members reportedly agree rise of 206,000 barrels a day in May but move symbolic with strait of Hormuz effectively closed
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arabnews.com
OPEC+ agrees modest output increase amid Strait of Hormuz crisis
LONDON: Eight members of OPEC+ agreed on Sunday to raise their oil output quotas by 206,000 barrels per day for May, the group said after a virtual meeting. The war has…
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upi.com
OPEC agrees on another oil production boost as Strait remains blocked - UPI.com
OPEC members on Sunday agreed to a modest boost in oil output as the war in Iran continues to push global crude oil and gas prices higher.