OPEC+ countries agree modest rise in production as Iran retains chokehold on key Strait of Hormuz

Israel

VIENNA (AP) — 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.” The commitment from the seven countries, also including Algeria, Iraq, Kazakhstan, Kuwait and Oman, to raise production by 188,000 barrels per day comes after a virtual meeting they held on Sunday. The move is mostly symbolic because it comes as Iran blocks the