OPEC+ Boosts Oil Production for Sixth Time Since Iran Conflict

The Organization of the Petroleum Exporting Countries (OPEC+) has agreed to its sixth oil production increase since the start of the Iran war on February 28. Starting in September, OPEC+ will boost oil production by 188,000 barrels per day.

This decision comes as part of ongoing efforts to stabilize global energy markets. Despite the recent increases, global crude prices remain volatile due to ongoing supply chain disruptions and geopolitical tensions.