Gulf Producers Push Fourth Straight Quota Increase They Cannot Yet Deliver

OPEC+ members voted June 7 to raise output targets by 188,000 barrels per day starting in July, their fourth consecutive monthly increase, into a market most of them still cannot physically reach. The Strait of Hormuz has been effectively blockaded by Iranian forces since early March, following U.S. and Israeli strikes on Iran that began […] The post Gulf Producers Push Fourth Straight Quota Increase They Cannot Yet Deliver appeared first on the deep dive.