Seven OPEC+ Members Hold First Meeting After UAE Exit | FP Video

The OPEC+ has agreed to raise oil output targets by 188,000 barrels per day. The announcement came as global energy markets remain under pressure due to disruptions linked to the Iran conflict. The decision was taken by a group of seven OPEC+ member countries during a key meeting following the UAE’s recent exit from the alliance. While the increase is set to be implemented in June, oil traders say the impact may remain largely symbolic until the critical supply route, the Strait of Hormuz, fully reopens. The move is being seen as a signal that OPEC+ is prepared to ramp up production once the conflict eases and supply chains stabilise.
With global oil flows still uncertain, markets are closely watching the alliance’s next meeting scheduled for June 7, which could shape the future trajectory of oil prices.

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