First reported by bsky
OPEC+ approves fourth straight monthly oil output quota hike
OPEC+ agrees fresh August oil output hike as Strait of Hormuz reopens
By
TOI Business Desk
8h ago
Source
timesofindia.indiatimes.comOPEC+ agrees fresh August oil output hike as Strait of Hormuz reopensindiatimes.comOPEC+ is boosting oil output by another 188,000 barrels daily from August, continuing to reverse earlier cuts. Despite this, actual supply remains below pre-conflict levels due to disruptions impacting key producers. Oil prices have already fallen to pre-war figures, influenced by weaker Chinese demand and strategic reserve releases. The group faces internal shifts with the UAE's exit and Iraq's quota requests.
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