OPEC+ to slightly raise oil output by 188,000 barrels/day amid ongoing Iran conflict.

OPEC+ announced a modest increase in crude oil production by 188,000 barrels per day starting in June. This move is largely symbolic as the ongoing war with Iran continues to disrupt global oil supply. The increase excludes the United Arab Emirates, which left OPEC on May 1 due to disagreements over production limits. The decision reflects ongoing tensions and supply challenges in the oil market.