Reuters

07 Jun 2026, 07:08 UTC · 2h ago

OPEC+ set for fourth oil quota hike since Hormuz closure, sources say

Read original · https://www.reuters.com/business/energy/opec-set-fourth-oil-quota-hike-since-hormuz-closure-sources-say-2026-06-07/

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OPEC+ is expected to agree on a fourth single-month increase in oil output targets this Sunday. — Increasing production targets suggests a higher global supply of oil, which typically puts downward pressure on crude prices.
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2
Conflict between the U.S. and Iran is preventing several OPEC+ members from actually increasing their pumping levels. — Physical constraints on supply growth counteract the official target increases, potentially supporting price floors.
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