OPEC+ will increase oil production by 188,000 barrels per day starting in June, following a videoconference. The seven participating countries are monitoring market conditions.

Representatives of seven major oil producers within OPEC+ have announced an increase in production by 188,000 barrels per day starting from June, according to a statement released after a videoconference. This voluntary adjustment adds to a previous increase of 206,000 bpd, reaffirming OPEC+'s commitment to market stability. The seven participating countries, including Saudi Arabia and Russia, will continue to monitor market conditions. However, the increase is theoretical, considering the blockages in the Strait of Hormuz, where conflicts between Iran and the USA are taking place. This is the third consecutive increase in production this year, and the next OPEC+ meeting will take place on June 7. Additionally, oil prices have reached their highest levels in the last four years, and analysts are concerned about possible supply cuts that could affect global inflation.