WORLDMay 3 · 10:27 UTCBLOOMBERGSalma El Wardany, Grant Smith, Fiona MacDonald

OPEC+ Agrees to Symbolic June Quota Increase, Delegates Say

OPEC+ agreed to a symbolic June quota increase to stabilize oil markets. The United Arab Emirates announced its exit from OPEC and its wider alliance, weakening the group's influence amid global supply disruptions caused by the Iran war.

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Mentioned

OPEC+organizationUnited Arab EmiratesorganizationOrganization of the Petroleum Exporting CountriesorganizationSaudi ArabiaorganizationIran wartopicBloombergorganizationAndrey RudakovpersonVienna, Austriaplace

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