The Iran war exposed a long-simmering feud within the world’s most powerful oil cartel, boiling over this spring when it contended with the biggest oil supply shock in history.

Despite the impressive headline number, the cartel is still pumping nowhere near where it was before the Strait of Hormuz crisis turned Middle East oil flows upside down.

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