OPEC+ set raises output as Strait of Hormuz blockade disrupt oil flows

OPEC+ set raises output as Strait of Hormuz blockade disrupt oil flows The OPEC+ has agreed to increase output in June in a move aimed at reassuring markets that supply will continue despite the Israeli-US war on Iran. The group plans to add 188,000 barrels per day, a relatively small rise that is unlikely to offset the impact of restrictions around the Strait of Hormuz, where access remains constrained. The United Arab Emirates, a key member, exited the group last week, citing interference in its production decisions, adding to uncertainty within the bloc.