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OPEC oil output lowest since at least 2000 as US blockade squeezes Iran: Report
OPEC oil output in May plummeted to its lowest in over two decades, dropping by 1.06 million barrels per day. This significant decline was primarily driven by a U.S. naval blockade impacting Iran's exports, making it impossible for OPEC+ members to meet their planned production increases.
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upi.com
OPEC to increase oil output amid continued closure of Strait of Hormuz - UPI.com
OPEC plans to hike production by 200,000 barrels per day despite the Strait of Hormuz remaining closed, making it near-impossible to ship any of it.
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oilprice.com
OPEC+ Approves Another Oil Output Hike for July | OilPrice.com
OPEC+ approved another output increase even though the Strait of Hormuz disruption means much of the added supply may remain theoretical.
