{"id":1258,"date":"2026-06-07T07:36:52","date_gmt":"2026-06-07T07:36:52","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1258"},"modified":"2026-06-07T07:36:52","modified_gmt":"2026-06-07T07:36:52","slug":"opec-set-for-fourth-oil-quota-hike-since-hormuz-closure-sources-say","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1258","title":{"rendered":"OPEC+ set for fourth oil quota\u00a0hike since Hormuz closure, sources say"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>LONDON, June 7 (Reuters) &#8211; OPEC+ is set to agree on Sunday a fourth increase in oil output targets in as many months, three OPEC+ sources said, even though the U.S. war with Iran \u200bis still preventing several of the group&#8217;s members from pumping more.<\/div>\n<div>The \u200bwar has cut oil flows via the Strait of Hormuz, \u2060creating the world&#8217;s biggest ever supply crisis as key OPEC+ members including \u200bSaudi Arabia have been unable to supply customers in full since the end \u200bof February. The crisis for OPEC+ deepened when the United Arab Emirates left the Organization of the Petroleum Exporting Countries after almost 60 years.<\/div>\n<div>Seven core members of OPEC+, which groups \u200bOPEC and allied producers including Russia, have increased their output quotas from \u200bApril to June by almost 600,000 barrels per day.<\/div>\n<div>In reality, the group&#8217;s production has collapsed \u200cdue \u2060to export cuts by Gulf members, averaging 33.19 million bpd in April versus 42.77 million in February, according to OPEC figures.<\/div>\n<div>On Sunday, the seven members will likely increase targets by about 188,000 bpd from July, the sources said. \u200bThis is the \u200bsame as the \u2060June hike, which was adjusted down from monthly increases of 206,000 bpd in May and April to take into \u200baccount the UAE exit.<\/div>\n<div>All the sources spoke on condition of \u200banonymity \u2060and said a final decision had not been made.<\/div>\n<div>The seven of 21 OPEC+ members due to meet on Sunday are Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, \u2060and \u200bOman.<\/div>\n<div>A full OPEC+ ministerial meeting is also scheduled \u200bfor Sunday but is not expected to make any policy changes, the sources said.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1256\">A star is born as Andreeva eases into Grand Slam winners\u2019 club<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1254\">Southwest sticks with Boeing as MAX 7 delay pushes service to 2027<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1252\">With China\u2019s Xi in North Korea, Kim to project confidence, defiance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC+ is set to agree on Sunday a fourth increase in oil output targets in as many months, three OPEC+ sources said, even though the U.S. war with Iran \u200bis still preventing several of the group&#8217;s members from pumping more.<\/p>\n","protected":false},"author":1,"featured_media":1257,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[21,124,29],"class_list":["post-1258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-energy","tag-opec","tag-transport-fuels"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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