BUSINESSJun 7 · 12:55 UTCBLOOMBERGGrant Smith, Fiona MacDonald, Salma El Wardany, Nayla Razzouk

OPEC+ Agrees Another Symbolic Quota Hike for July

OPEC+ agreed to another symbolic quota increase for July. The United Arab Emirates will leave OPEC and its alliance, impacting the group and Saudi Arabia amid global oil supply disruptions caused by the Iran war.

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OPEC+organizationUnited Arab EmiratesplaceOrganization of the Petroleum Exporting CountriesorganizationSaudi ArabiaplaceIran wartopic

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