OPEC+ HAS RAISED ITS OUTPUT CEILING BY 188,000, WITH THE VAST MAJORITY OF THE ADDITION VIEWED BY ANALYSTS AS "PAPER BARRELS"—UNLIKELY TO REACH THE MARKET DUE TO ONGOING DISRUPTIONS IN THE STRAIT OF HO

OPEC+ HAS RAISED ITS OUTPUT CEILING BY 188,000, WITH THE VAST MAJORITY OF THE ADDITION VIEWED BY ANALYSTS AS "PAPER BARRELS"—UNLIKELY TO REACH THE MARKET DUE TO ONGOING DISRUPTIONS IN THE STRAIT OF HORMUZ. INDEED, OIL PRICES ARE UP 4% THIS MORNING. NOTWITHSTANDING PRESIDENT TRUMP'S REMARKS THAT A PEACE DEAL IS IMMINENT AND THAT ISRAEL MUST ALIGN WITH US DIRECTIVES, TRADERS ARE REACTING TO THE MILITARY ESCALATION BETWEEN IRAN AND ISRAEL, ALONGSIDE EXPANDING ISRAELI ATTACKS ON LEBANON. #ECONOMY #O

Output ceiling raised 188k barrels, but Strait of Hormuz disruptions make additions "paper barrels," oil up 4%.