Opec agrees fourth monthly output rise despite Hormuz closure and price swings
The National · 7 Jun 2026

Opec agrees fourth monthly output rise despite Hormuz closure and price swings

Seven Opec oil producers have agreed to raise their July crude production target by 188,000 barrels per day, the fourth monthly increase, despite supply concerns and oil price volatility driven by the Iran war. The unwinding of the voluntary cut reflects a business-as-usual approach despite an unpre


AI Translated Summary:
OPEC has decided to increase its crude production target by 188,000 barrels per day for July, marking the fourth consecutive monthly rise. This decision comes amid ongoing supply concerns and price fluctuations influenced by the Iran conflict.


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