Overview
- OPEC+ said it will add 188,000 barrels per day in June, posting the decision on its website.
- The bloc framed the step as a move to support market stability and did not mention the UAE’s departure.
- Members agreed to review conditions each month, with the next meeting set for June 7.
- The UAE left OPEC to set its own production and pricing after decades in the group, and state firm Adnoc plans about €46.45 billion in new projects over two years to speed growth.
- Conflict has constrained tanker traffic through the Strait of Hormuz, which limits how much any output increase can reach buyers right away.