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The Nexus
BUSINESSJun 8 · 13:51 UTCQUARTZCris Tolomia

OPEC+ is raising oil output quotas for a fourth straight month — but the Strait of Hormuz is still shut

OPEC+ increased oil output quotas by 188,000 barrels per day for July, the fourth consecutive monthly rise. Analysts describe the decision as largely symbolic due to ongoing blockage of Gulf exports via the Strait of Hormuz.

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