The group OPEC+ wants to pump more oil. 7 countries decide this at a meeting. From September the amount goes up. The increase is 188.000 barrels per day. One barrel is 159 liters of oil.
Maybe the market gets less oil. Some countries pump less oil than they can. A block in the sea causes this. Ships use this sea route. The name of the sea route is Strait of Hormuz.
The OPEC office is in Vienna. The group decides the oil rules. The group controls the price of oil. The price goes up by 26 percent since February. One barrel costs about 88 dollars.
Conflicts are the cause for the high price. The USA and Israel attack Iran. Iran blocks the sea route. OPEC+ talks about the rules again on September 6.
