WS #11461
OPEC+ seven core members agree to increase oil production quotas by 188,000 bpd starting August 2026, continuing gradual unwinding of cuts amid recovering Gulf flows. 15 fertilizer vessels safely cross Strait of Hormuz, indicating supply chain normalization and dampening oil supply risk premium. Ukraine drone strike hits oil terminal near St. Petersburg, adding bearish risk premium to Russian oil supply.
OPEC+ Production Increase
OPEC+ seven core members agree to increase oil production quotas by 188,000 bpd starting August 2026, continuing gradual unwinding of cuts amid recovering Gulf flows.
15 fertilizer vessels safely cross Strait of Hormuz, indicating supply chain normalization and dampening oil supply risk premium.
Ukraine drone strike hits oil terminal near St. Petersburg, adding bearish risk premium to Russian oil supply.