OPEC Plus to Boost Oil Production as Ceasefire in Iran Remains Elusive

The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil stranded by the effective shutdown of the Strait of Hormuz.​The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil stranded by the effective shutdown of the Strait of Hormuz.