OPEC+ Hike Oil Slump
Brent crude prices fall sharply as OPEC+ raises production quotas, offsetting market optimism from de-escalating Middle East tensions and easing shipping risks.
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- EVENTOil prices slump as OPEC+ output hike offsets Middle East de-escalation hopes
Brent crude fell sharply to $83.39 as the cartel's September production increase countered market optimism over a potential US-Iran peace deal.
The Punch - MARKETOPEC+ adds 188,000 bpd to August output as shipping risk eases
Seven members raise quotas, signaling confidence that regional transit threats are receding and supply constraints are loosening.
New Straits Times