Hormuz Blockade Drives OPEC to Raise Production in June 2026

 A Spring 2026 OPEC report showed a sharp decline in Iraqi and Saudi production due to security and maritime disruptions in Gulf waters. In May 2026, alliance countries decided to gradually restore some voluntary cuts to absorb price fluctuations exceeding $100. Mid-May 2026 data indicated that Washington's total blockade on Iranian ports led to failed negotiations and renewed market tensions. Investors in June 2026 await the next meeting to assess the new production's ability to bridge the gap left by the Hormuz closure.