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BUSINESSJul 5 · 14:37 UTCDAWN[email protected] (Reuters)

Opec+ approves further oil output increase as Hormuz exports start to recover

OPEC+ approved an August oil output increase as Hormuz exports recover, with core members raising quotas by nearly 800,000 bpd since April despite earlier disruptions from the US-Israeli war on Iran. The UAE has left OPEC+, and Iraq is pushing for higher quotas.

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OPEC+organizationStrait of HormuzplaceUnited StatesplaceIsraelplaceIranplaceUnited Arab EmiratesplaceIraqplaceInternational Energy Agencyorganization
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