OPEC+ approves fourth oil output quota hike since Hormuz closure

LONDON (Reuters) -- OPEC+ agreed Sunday a fourth increase in its oil output targets in as many months, even though the US war with Iran is still preventing several of the group's members ‌from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world's biggest-ever supply crisis as key OPEC+ members including Saudi Arabia have been unable to supply customers in full since the end of February. The crisis for OPEC+ deepened when the United Arab Emirates left the Organiza

By The Korea Herald