UAE crude output surged to near-record highs in June after quitting OPEC, as discounted ADNOC barrels drew Chinese and U.S. buyers.

OPEC+ to raise oil output by 188,000 bpd from August as Gulf producers unwind cuts, Strait of Hormuz shipping normalises and markets eye price pressures.

OPEC+ will boost oil output by 188,000 barrels per day in August. Crude oil reaching a new all-time high by September 30 at 2.6% YES.