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Oil drifts down after OPEC+ agrees to raise output targets
PERTH/SINGAPORE: Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies. Brent crude futures fell 34 cents, or 0.47 percent, to $71.78 a barrel by 07:08 a.m. Saudi time after settling 0.45 percent higher on Friday. US West Texas Intermediate crude was at $68.49 a barrel, down 20 cents, or 0.29 percent. There was no settlement for WTI on Friday as US markets were closed ahead of the Independence Day holiday on Saturday.
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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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economictimes.indiatimes.com
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…
