WS #11444
OPEC+ agreed to raise oil production by 188,000 bpd in August, continuing the unwinding of cuts as Strait of Hormuz reopens, pressuring oil prices. 15 India-bound fertilizer ships crossed Hormuz safely; Iran signals potential fee concessions for friendly nations, indicating gradual normalization of oil flows. Naftogaz reports near-constant attacks on infrastructure; massive drone attack on southern/eastern Ukraine; Russia faces emergency over Ukraine's strikes on its energy sector. Trump held separate calls with Putin and Zelenskyy to discuss ending the Ukraine war, a potential de-escalation signal.
OPEC+ August Production Hike
OPEC+ agreed to raise oil production by 188,000 bpd in August, continuing the unwinding of cuts as Strait of Hormuz reopens, pressuring oil prices.
15 India-bound fertilizer ships crossed Hormuz safely; Iran signals potential fee concessions for friendly nations, indicating gradual normalization of oil flows.
Naftogaz reports near-constant attacks on infrastructure; massive drone attack on southern/eastern Ukraine; Russia faces emergency over Ukraine's strikes on its energy sector.
Trump held separate calls with Putin and Zelenskyy to discuss ending the Ukraine war, a potential de-escalation signal.