WS #11478
OPEC+ agreed to increase production quotas by 188,000 b/d for August, continuing gradual unwinding of cuts as Strait of Hormuz reopens, bearish for oil prices. Ukrainian drone strike on St. Petersburg oil terminal signals escalation in Russia-Ukraine war, threatening further disruption to Russian oil/gas capacity. Intelligence reports indicate Iran's Quds Force established a unit to coordinate with Mexican cartels on assassination plots against President Trump, escalating geopolitical risk.
OPEC+ August production increase
OPEC+ agreed to increase production quotas by 188,000 b/d for August, continuing gradual unwinding of cuts as Strait of Hormuz reopens, bearish for oil prices.
Ukrainian drone strike on St. Petersburg oil terminal signals escalation in Russia-Ukraine war, threatening further disruption to Russian oil/gas capacity.
Intelligence reports indicate Iran's Quds Force established a unit to coordinate with Mexican cartels on assassination plots against President Trump, escalating geopolitical risk.