OPEC+ approved another output increase even though the Strait of Hormuz disruption means much of the added supply may remain theoretical.

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,…

Seven members of OPEC+, which groups OPEC and allied producers including Russia, increased output quotas from April to June by almost 600,000 barrels per day.

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