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flag OPEC+ considers raising output but unlikely to increase production due to Strait of Hormuz closure.

flag OPEC+ plans to discuss a potential oil output increase at an upcoming meeting, though the move is largely theoretical due to the ongoing Iran conflict. flag The war has closed the Strait of Hormuz, removing 15% of global supply and sending crude prices to near $120 a barrel. flag Even if quotas are raised, actual production increases are unlikely until the shipping route reopens.

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