OPEC+ approves fourth straight oil output hike, raises July targets by 188,000 bpd

Jun 7, 2026 - 22:30
OPEC+ approves fourth straight oil output hike, raises July targets by 188,000 bpd

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OPEC+ agreed to a fourth consecutive oil production target increase of 188,000 barrels per day from July, despite ongoing US-Iran conflict disruptions. This decision comes as major Gulf producers struggle to meet demand due to export issues through the Strait of Hormuz.

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