In a major development, OPEC+ has agreed in principle to raise oil production by about 206,000 barrels per day (bpd), even as the US-Israel military action against Iran has disrupted shipments across the Gulf, Reuters reported citing sources. The decision comes after US strikes on Iran – which killed Supreme Leader Ayatollah Ali Khamenei – triggered retaliation from Tehran and halted navigation through the Strait of Hormuz, the world’s most critical oil transit route.