Opec+ approves 4th oil output quota hike since Hormuz closure

OPEC+ decides on fourth oil quota hike since Hormuz closure

OPEC+ approves its fourth quota hike (+188k bpd), but actual output collapsed from 42.77M to 33.19M bpd due to US-Iran war and Hormuz closure. For IT leaders, oil volatility ($72→$93/barrel) and geopolitical risk directly raise energy and cloud infrastructure costs.