OPEC+ to Raise Output by 188k bpd

OPEC+ is expected to approve a modest increase of about 188,000 barrels per day in oil output quotas at its Sunday meeting.
The increase mirrors last month’s 206,000 bpd hike, adjusted for the United Arab Emirates’ exit from the group on May 1.
Despite the conflict and Strait of Hormuz closure limiting exports from Saudi Arabia, Iraq, Kuwait and UAE, OPEC+ maintains a business‑as‑usual stance.
Sunday’s meeting will involve Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia and Oman, with OPEC+ total 21 members after UAE’s exit.