OPEC+ is expected to approve another production quota increase for August as Gulf oil output gradually recovers following the reopening of the Strait of Hormuz.

OPEC+ is expected to approve another production quota increase for August as Gulf oil output gradually recovers following the reopening of the Strait of Hormuz.

Seven OPEC+ nations, including Saudi Arabia and Russia, are poised to increase oil production quotas for August, aiming to recover from disruptions caused by the Middle East war.…