OPEC+ RAISES QUOTAS AGAIN AS MIDDLE EAST CALMS

The OPEC+ alliance has agreed to further increase oil production quotas as tensions in the Middle East ease and global supply concerns subside.

The decision, announced after a ministerial meeting, will see additional barrels brought to the market in the coming months. OPEC+ President, Saudi Energy Minister Prince Abdulaziz bin Salman, cited improved market stability and the need to balance supply with growing demand as key factors behind the move.

Analysts believe the quota increase could help moderate global oil prices while supporting economic recovery in consuming nations. However, some members have expressed caution about oversupply risks if demand growth slows.

The development comes as geopolitical risks in the Middle East have diminished, allowing the group to focus on long-term market management.

Market observers expect the additional supply to influence prices in the second half of the year.