OPEC+ Quota Hike
OPEC+ raises July production quotas by 1.1 million barrels per day as Iraq demands higher output allocations, testing cartel discipline amid geopolitical supply route risks.
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- UPDATEOPEC+ adds 188,000 bpd to August output as Hormuz risk recedes
The cartel's decision to unwind voluntary cuts signals that Gulf producers view the Strait of Hormuz shipping threat as diminishing, weighing on crude prices.
- UPDATEOPEC+ confirms 188,000 bpd output hike for August
The cartel's decision to add supply comes as geopolitical risks in the Strait of Hormuz persist, complicating the balance between production growth and route security.
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The central bank's weekly fixings show the ruble strengthening against both the US dollar and the euro, continuing a trend of modest currency stabilization.
- EVENTOPEC+ quotas rise by 1.1 mbd in July as Iraq pushes for higher output
The cartel's production ceiling lifts to 30.633 mbd, reflecting Iraq's push to expand supply amid broader geopolitical pressures on trade routes.
- EVENTIraq demands OPEC quota hike, intensifying supply standoff
Baghdad cites war damage to justify request, adding pressure on cartel discipline and energy route risk.