OPEC+ Quota Hike
OPEC+ raises August oil quotas by 188,000 bpd as easing Strait of Hormuz tensions drive crude prices lower amid diplomatic progress.
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- UPDATEBrent crude drops to $71.10 as OPEC+ output hike offsets easing Hormuz risks
Rising supply from key producers and recovering Strait of Hormuz exports weigh on prices, extending the retreat from recent highs.
- UPDATEBrent crude drops to $71.10 as OPEC+ output hike offsets easing Hormuz risks
Rising supply from key producers and recovering Strait of Hormuz exports weigh on prices, extending the retreat from recent highs.
- UPDATEBrent crude drops to $71.10 as OPEC+ output hike offsets easing Hormuz risks
Rising supply from key producers and recovering Strait of Hormuz exports weigh on prices, extending the retreat from recent highs.
- UPDATEOPEC+ members add 188,000 bpd to August output as shipping risk eases
Seven producers raise quotas, signaling confidence that Middle East route disruptions are receding and supply constraints are loosening.
- AHEADOPEC+ set to raise August quotas as Middle East shipping risks recede
Gulf producers signal confidence in route security by adding 188,000 bpd to output targets, capping a week of easing tensions in the Strait of Hormuz.
- EVENTOil prices drop for third straight day as Hormuz tensions ease
Diplomatic progress between the US and Iran reduces supply disruption fears, extending crude's weekly decline.