OPEC+ approves fourth oil output quota hike since Hormuz closure

OPEC+ set for fourth oil quota hike since Hormuz closure, sources say

OPEC+ approves fourth quota hike (July +188k bpd) despite output collapse: 33.19M vs 42.77M bpd, worsened by U.S.-Iran conflict and UAE's exit. Supply instability threatens global data center costs; persistent geopolitical friction prevents OPEC from stabilizing energy markets.