Menu

OPEC+ announces symbolic oil output rise during Strait of Hormuz closure
📰
0

OPEC+ announces symbolic oil output rise during Strait of Hormuz closure

Al Jazeera·Al Jazeera Staff·29 days ago
#tNLAmyeR
Reading 0:00
15s threshold

The seven major producers, including Saudi Arabia, will add 188,000 barrels per day to their total production quota for June, the organisation says. OPEC+ has agreed to a modest, largely symbolic oil output increase for June as the United States-Israel war on Iran disrupts Gulf supplies through the Strait of Hormuz. “In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day,” OPEC+ said in a statement, making no mention of the United Arab Emirates, which quit the body on Friday . Recommended Stories list of 3 items list 1 of 3 Why is the UAE quitting OPEC – and what’s the impact?…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More