WS #11450
OPEC+ agreed to increase output by 188,000 bpd from August, adding to global supply as oil prices fall due to Strait of Hormuz reopening, bearish for oil. Ukrainian drone attack hit oil terminal near St. Petersburg, disrupting Russian supply and adding bullish pressure on oil prices. India removed emergency natural gas supply restrictions as Strait of Hormuz LNG shipments resume, positive for Indian energy security.
OPEC+ Output Increase
OPEC+ agreed to increase output by 188,000 bpd from August, adding to global supply as oil prices fall due to Strait of Hormuz reopening, bearish for oil.
Ukrainian drone attack hit oil terminal near St. Petersburg, disrupting Russian supply and adding bullish pressure on oil prices.
India removed emergency natural gas supply restrictions as Strait of Hormuz LNG shipments resume, positive for Indian energy security.