WORLDJun 7 · 23:51 UTCMIDDLE EAST EYEQazi Zaid

Oil producers approve supply boost as Middle East tensions persist

OPEC+ agreed to increase oil production quotas by 188,000 barrels per day in July, with Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman approving the move to support market stability and address elevated prices. Analysts remain skeptical about the decision's effectiveness amid ongoing disruptions in the Strait of Hormuz.

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OPEC+organizationSaudi ArabiaplaceRussiaplaceIraqplaceKuwaitplaceKazakhstanplaceAlgeriaplaceOmanplaceStrait of Hormuzplace

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