OPEC+ Raises Output Just as Hormuz Bottleneck Clears

OPEC+ approved production increases effective August 5, 2026, as the Strait of Hormuz—conduit for a fifth of global seaborne crude—began recovering export flows. The timing matters: quotas lifting while physical constraints ease compounds downward pressure on crude prices. For traders, the logistics normalization may prove more operationally significant than the paper quota hike itself.