OPEC+ Agrees to Modest Production Rise as Iran Retains Chokehold on Strait of Hormuz

Seven OPEC+ countries, including Saudi Arabia and Russia, agreed to a modest increase in oil production starting in June. This decision occurs while Iran maintains a strategic chokehold on the Strait of Hormuz, complicating global energy security. The move signals a shift in regional leverage as the war with Iran continues to influence global markets.