OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz
- Posted on May 3, 2026
- By Newsday
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- 1 min read
OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz
Seven countries in the OPEC+ grouping of oil-producing countries — including Saudi Arabia and Russia — say they've decided to a modest increase in production starting in June as part of a commitment to "market stability."
