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flag OPEC+ discusses oil output increase amid Middle East conflict.

flag OPEC+ plans to discuss a potential oil output increase, but officials say the move is largely theoretical due to the ongoing conflict in the Middle East. flag The war has effectively closed the Strait of Hormuz, a vital shipping route, and damaged infrastructure in key producing nations like Saudi Arabia, the UAE, Iraq, and Kuwait. flag This disruption has already removed about 15% of global supply, driving crude prices to near $120 a barrel.

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