Eight OPEC+ nations will increase crude oil output by 206,000 barrels daily in April. This decision follows major attacks in the Gulf region. The Strait of Hormuz, a critical oil chokepoint, faces potential disruptions. Experts predict higher oil and gasoline prices. This move aims to stabilize markets amidst escalating geopolitical tensions.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets