OPEC+ to Raise June Oil Output Quotas by 188,000 BPD After UAE Exit
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May 2, 2026: seven OPEC+ members (Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, Oman) agreed to raise June oil output quotas by ~188,000 bpd (mirrors April’s 206,000 bpd hike minus UAE’s 18,000 bpd). Move may slightly lower oil prices and ease energy costs despite Strait of Hormuz supply risks, which could modestly reduce crypto mining costs and operating pressure. Crypto impact: modestly positive for market sentiment, potential tailwind for token markets, DeFi and CEX liquidity and broader adoption; monitor ongoing supply risks and policy shifts.
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- Seven OPEC+ countries have agreed to raise June oil output quotas by 188,000 barrels per day.
- After UAE exit, OPEC+ trims quota share to align with April’s 206,000 bpd hike minus UAE’s 18,000 bpd share.
- This move may slightly lower oil prices, ease energy costs, and boost the crypto market sentiment.
Seven OPEC+ countries have agreed to raise June oil output quotas by approximately 188,000 barrels per day (bpd). The adjustment mirrors April’s 206,000 bpd hike, minus the UAE’s 18,000 bpd share, as the remaining producers maintain a gradual easing of quotas despite the UAE’s exit and ongoing supply risks, such as the disruptions in the Strait of Hormuz.
OPEC+ Agrees to Raise June Oil Output Quotas
On May 2, 2026, according to sources, the seven remaining OPEC+ countries, namely Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman, have reached…
Read The Full Article OPEC+ to Raise June Oil Output Quotas by 188,000 BPD After UAE Exit On Coin Edition.
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