Energy & Petrochemicals #opec#oil production
OPEC+ Agrees in Principle on 188,000 b/d Output Hike for August, Delegates Say
OPEC+ preliminarily agreed to increase oil output quotas by 188,000 b/d in August, delegates said. The increase, if ratified, would add to a total of 940,000 b/d since the war began. Restored shipments after the US-Iran peace pact have created a surplus in Asian markets and erased the war rally.
Jul 5, 2026 1 source