Opec+ set to increase oil output targets again

Opec+ set to increase oil output targets again Opec+ is set to agree on Sunday a fourth increase in oil output targets in as many months, three sources from the oil cartel told Reuters, even though the war on Iran is still preventing several members from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world's biggest ever supply crisis as key Opec+ members including Saudi Arabia have been unable to supply customers in full since the end of February, Reuters reported. The United Arab Emirates recently left the oil cartel after 60 years, deepening the crisis within it.