WS #11451
OPEC+ approved a 188,000 bpd output increase for August, adding to supply as Hormuz exports recover, bearish for oil prices. Gulf oil exports rebounded above 10 million bpd in June as Hormuz traffic recovers, but Iran continues threats, keeping supply risk elevated.
OPEC+ Output Increase
OPEC+ approved a 188,000 bpd output increase for August, adding to supply as Hormuz exports recover, bearish for oil prices.
Gulf oil exports rebounded above 10 million bpd in June as Hormuz traffic recovers, but Iran continues threats, keeping supply risk elevated.