The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil stranded by the effective shutdown of the Strait of Hormuz.
The cartel of influential oil-producing nations known as OPEC Plus on Sunday agreed to increase production by 188,000 barrels per day in July as the United States and Iran struggled to reach an agreement to end the war and fully reopen the Strait of ... [1969 chars]