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The Economic Times
The Economic Times

UNCOVERED: Opec increases production quotas for july - The Untold Story

OPEC Oil Jorge Leon Mideast Rystad Energy

Vienna, OPEC+ ministers decided Sunday to increase oil quotas by a total 188,000 barrels per day for July, in a move analysts said would be unlikely to have an impact on prices sent higher by the Mideast war.

Jorge Leon, analyst at Rystad Energy, said ahead of the expected increase that it "means very little while the Strait of Hormuz remains closed".

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