OPEC+ Freezes Output Targets; G7 Releases 100M Barrels as Hormuz Disruptions Persist

OPEC+ has frozen production targets after months of gradual increases, with actual output lagging due to export disruptions from the Strait of Hormuz blockade. The G7 announced a 100 million barrel strategic reserve release over four months to lower pump prices, but experts expect only short-term effects. This marks a policy shift from gradual increases to a freeze, highlighting supply constraints and limited spare capacity.