WS #11434
OPEC+ agrees to raise output quotas by 188,000 bpd for August, the fourth consecutive monthly increase, as Strait of Hormuz flows recover, pushing Brent crude back to ~$72/bbl. Iran's envoy states that friendly nations will receive 'special' Hormuz fee treatment, suggesting the post-crisis regime may not be a full return to free transit, capping oil price downside.
OPEC+ Output Hike and Oil Market Normalization
OPEC+ agrees to raise output quotas by 188,000 bpd for August, the fourth consecutive monthly increase, as Strait of Hormuz flows recover, pushing Brent crude back to ~$72/bbl.
Iran's envoy states that friendly nations will receive 'special' Hormuz fee treatment, suggesting the post-crisis regime may not be a full return to free transit, capping oil price downside.