The now-former Opec member is planning to ramp up upstream activity as it lures international investors, with Hormuz bypass options now a top priority.

OPEC+ is expected to approve another production quota increase for August as Gulf oil output gradually recovers following the reopening of the Strait of Hormuz.

The now-former Opec member is planning to ramp up upstream activity as it lures international investors, with Hormuz bypass options now a top priority.