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OPEC+ raises output levels again despite tumbling crude prices

OPEC+ raises output levels again despite tumbling crude prices
MarketWatch Sunday 05 July 2026, 19:55 UTC By Mike Murphy 1 min read
Key Points

Major oil producers on Sunday agreed once again to modestly increase their crude production, although, as in previous months, the hike is largely symbolic until a peace deal between the U.S. and Iran sticks and the Strait of Hormuz is fully reopened to shipping traffic.

Major oil producers on Sunday agreed once again to modestly increase their crude production, although, as in previous months, the hike is largely symbolic until a peace deal between the U.S. and Iran sticks and the Strait of Hormuz is fully reopened to shipping traffic.
U.S. (LOCATION) Iran (LOCATION) the Strait of Hormuz (LOCATION)
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