MOSCOW/LONDON: OPEC+ agreed on Sunday (Apr 5) to raise its oil output quotas by 206,000 barrels per day for May, a modest rise that will largely exist on paper as key members are unable to increase production due to the US-Israeli war with Iran. The war has effectively shut the Strait of Hormuz, the world's most important oil route, since the end of February, cutting exports from OPEC+ members Saudi Arabia, the UAE, Kuwait and Iraq. Crude prices have surged to a four-year high close to US$120 a