OPEC+ Approves Fourth Oil Output Hike Since Hormuz Closure
OPEC+ nations have approved a fourth consecutive increase in oil production quotas, adding approximately 188,000 barrels per day starting in July, despite the closure of the Strait of Hormuz and preparing for potential market impacts.
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OPEC Plus to Boost Oil Production as Ceasefire in Iran Remains Elusive
The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil stranded by the effective shutdown of the Strait of Hormuz.
By Lisa Friedman
Read full article →Opec+ increases production quotas for fourth successive month
Impact of decision will be limited by shipping restrictions
Read full article →OPEC+ set for fourth oil quota hike since Strait of Hormuz closure, sources say
Seven members of OPEC+, which groups OPEC and allied producers including Russia, increased output quotas from April to June by almost 600,000 barrels per day.
Read full article →Opec+ approves fourth oil output quota hike since Hormuz closure
Opec+ agreed on Sunday on a fourth increase in its oil output targets in as many months, even though the US war with Iran is still preventing several of the group’s 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. The crisis for Opec+ deepened when the United Arab Emirates left the Organisation of th...
By none@none.com (Reuters)
Read full article →OPEC+ approves fourth oil output quota hike since Hormuz closure
On Sunday, the seven members decided to increase targets by 188,000 bpd from July, OPEC said in a statement.
Read full article →OPEC+ approves another oil output increase for July, extends compliance deadline
Read full article →OPEC+ raises production quotas for July
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By AFP
Read full article →OPEC+ agrees 4th straight oil output hike since Hormuz closure
OPEC+ agreed on Sunday a fourth straight hike in its oil output targets in as many months, the organization said in a statement, even though the ongoing conflict in the Middle E...
Read full article →OPEC+ increases production quotas for July
OPEC+ ministers have agreed to increase oil production quotas by 188,000 barrels per day for July. This move aims to support market stability amidst high p Read More: https://punchng.com/opec-increases-production-quotas-for-july/
By Punch Newspapers
Read full article →OPEC+ approves fourth oil output increase since Hormuz closure
By Udeme AkpanThe Organisation of Petroleum Exporting Countries and its allies, also known as OPEC+, has approved the fourth oil output increase since the Hormuz closure crisis. The decision followed renewed commitments by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman to support market stability. In a statement issued at the weekend, OPEC stated: […] The post OPEC+ approves fourth oil output increase since Hormuz closure appeared first on Vanguard News.
By Nwafor
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