Episode Details

OPEC Plus is pushing forward with another 188,000 barrels a day production hike for August, aiming to reassure markets—but real impact remains elusive amid Middle East tensions and Iran’s Strait of Hormuz blockades. While paper increases offer hope, actual output has stalled, especially in Iraq. Then came the shocker: the UAE, after 60 years, exited OPEC Plus, immediately boosting exports to record levels—up to 4 million barrels daily—thanks to reopened shipping lanes and stored oil. Analysts warn these numbers may be temporary as storage empties. With the U.S. now the world’s top oil producer, OPEC Plus’s grip on global supply is slipping. Yet, members like Kazakhstan and Iraq remain loyal—showing the group’s influence is waning, even as it tries to hold the line.

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