OPEC+ sub‑committee of seven members provisionally agreed to raise June production quota by 188,000 barrels per day after UAE’s departure.
UAE exited OPEC+ after nearly six decades over Saudi Arabia production‑capacity friction, the alliance’s biggest split.
Brent settled near $108/barrel, easing from four‑year highs as Gulf conflict and Hormuz closure dominate market focus.
Analysts warn rising diesel, gasoline and jet‑fuel costs could trigger demand destruction and heighten recession risks as inventories fall.