WS #11467
OPEC+ agrees to increase oil output by 188,000 bpd in August, fifth consecutive monthly increase, as Strait of Hormuz traffic recovers and Brent crude falls to ~$72/bbl. Houthis attacked a cargo vessel 30NM southwest of Al Hudaydah in the first strike on the Bab el-Mandeb Strait since the war began, per UKMTO.
OPEC+ Production Increase & Oil Market Normalization
OPEC+ agrees to increase oil output by 188,000 bpd in August, fifth consecutive monthly increase, as Strait of Hormuz traffic recovers and Brent crude falls to ~$72/bbl.
Houthis attacked a cargo vessel 30NM southwest of Al Hudaydah in the first strike on the Bab el-Mandeb Strait since the war began, per UKMTO.