OPEC+ Set for Modest June Output Hike Amid Hormuz Risks Supporting WLDOIL

Newsquawk's May 2 week-ahead preview reaffirms OPEC+'s expected approval of a ~188k bpd June output increase, scaled from ~206k after UAE's May 1 exit, as Strait of Hormuz disruptions elevate supply risks and underpin WLDOIL prices amid energy inflation pressures. This echoes the May 1 outlook, emphasizing symbolic group cohesion while highlighting major central bank moves like ~81% priced RBA 25bps hike and US data focal points. Key releases include April NFP consensus +73k (prior +178k), sticky PCE (headline Y/Y 3.5%, core 3.2%), and Q1 GDP +2.0% vs 2.1% exp, fostering policy caution and volatility across commodities, FX, and rates.