OPEC+ announces symbolic oil output rise during Strait of Hormuz closure
Key takeaways
- The seven major producers, including Saudi Arabia, will add 188,000 barrels per day to their total production quota for June, the organisation says.
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- “The seven OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation.”
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The seven major producers, including Saudi Arabia, will add 188,000 barrels per day to their total production quota for June, the organisation says.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo. A model of an oil pump is seen in front of the OPEC logo [File: Dado Ruvic/Reuters]By Al Jazeera Staff, AFP and Reuters Published On 3 May 20263 May 2026OPEC+ has agreed to a modest, largely symbolic oil output increase for June as the United States-Israel war on Iran disrupts Gulf supplies through the Strait of Hormuz.
“In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day,” OPEC+ said in a statement, making no mention of the United Arab Emirates, which quit the body on Friday.