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The Economic Times

Economy / The Economic Times

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As OPEC+ meets, Iran war hobbles power to shape oil market

OPEC+ ministers are meeting to discuss increasing oil production quotas to combat surging prices, which have doubled since the Strait of Hormuz was effectively blocked by conflict. However, analysts believe geopolitical realities and dwindling supply mean any output increases will have limited impact on global prices.

7 Jun 2026 7:35 am