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Oil slips after OPEC+ agrees to raise output targets
Oil prices dipped as OPEC+ agreed to boost output from August, with key producers seeing recovering exports via the Strait of Hormuz. Despite the planned increase, actual output may be capped due to ongoing geopolitical tensions. Gulf oil exports are reviving but still lag pre-conflict levels, while Russia's crude shipments surged due to refinery damage.
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channelnewsasia.com
OPEC+ approves further oil output increase as Hormuz exports start to recover
LONDON: OPEC+ has agreed a further increase in output targets from August, the group said in a statement on Sunday (Jul 5), adding to global supply at a time when oil prices are…
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OPEC+ set to clear another oil output increase: Sources
LONDON: OPEC+ is set to agree on Sunday (Jul 5) on another increase in output targets from August, sources with knowledge of the matter said, adding to global supply amid falling…
