OPEC Plus to approve output hike
OPEC+ is heading today to approve a fourth increase in oil production targets within four months, despite the ongoing U.S. war with Iran, which affects some members' ability to increase output. The targets are expected to be raised by around 188,000 barrels per day starting in July, amid a decline in actual production to 33.19 million barrels per day in April due to export cuts by Gulf countries and the impact of the Iran crisis.
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