
War shakes oil: OPEC+ towards a further increase in production
Producing countries have decided on an increase of 206 thousand barrels per day, compared to the 137 thousand expected. The closure of the Strait of Hormuz weighs heavily.
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OPEC Plus to Boost Oil Production as Iran Strikes Threaten Price Spike
The cartel pledged to increase output by 206,000 barrels a day from next month, and said that members would “closely monitor and assess market conditions.”
By Eshe Nelson
Read full article →OPEC+ hikes oil production more than expected amid strikes on Iran
Key members of the OPEC+ announced a greater-than-expected increase to production quotas on Sunday following U.S. and Israeli strikes on Iran that triggered retaliation by Tehran a...
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