OPEC+ ministers are meeting to discuss increasing oil production quotas to combat surging prices, which have doubled since the Strait of Hormuz was effectively blocked by conflict. However, analysts believe geopolitical realities and dwindling supply mean any output increases will have limited impact on global prices.

OPEC+ ministers are meeting to discuss increasing oil production quotas to combat surging prices, which have doubled since the Strait of Hormuz was effectively blocked by…

LONDON, June 7 — Opec+ ministers meet today to weigh higher production quotas in a bid to cap oil prices that have surged since the Iran war effectively choked off Gulf crude...

OPEC+ is set to raise its oil output targets for the fourth straight month, a strategic move amidst production hurdles faced by some of its member countries. Despite setbacks,…

OPEC+ ministers decided Sunday to increase oil quotas by a total 188,000 barrels per day for July, in a move analysts said would be unlikely to have an impact on prices sent…

Analyst says the increase means little as long as the strait remains closed