OPEC+ agrees to raise oil production from August as prices ease
OPEC+ has agreed to increase oil production by 188,000 barrels per day from August 2026, according to a statement from the group. The decision was taken on Sunday in an online meeting and comes as global oil prices have fallen. The move adds to similar increases approved for June and July.The group said the latest rise will be part of a gradual increase in supply after a period of disruption linked to the conflict involving the United States, Israel and Iran. The supporting material says the Strait of Hormuz had been closed to tanker traffic from some major OPEC+ members,... [Continue Reading]
360LiveNews | 05 Jul 2026 15:30 LONDON
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