OPEC+ raised oil production quotas by 188,000 bpd for July 2026, but the blocked Strait of Hormuz makes the increase largely symbolic for energy and crypto

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.

OPEC+ plans to increase oil production quotas amid regional stabilization. New all-time high for crude oil by December 31 at 7.5% YES.