WS #11485
OPEC+ approved a 188,000 bpd output hike for August, and Hormuz shipping shows fragile recovery with some vessels U-turning, keeping oil prices under downward pressure. Russia launched a large-scale missile and drone attack on Kyiv overnight, escalating the conflict but with no new market-moving implications beyond ongoing geopolitical risk.
Oil Market: OPEC+ Output Hike and Hormuz Recovery
OPEC+ approved a 188,000 bpd output hike for August, and Hormuz shipping shows fragile recovery with some vessels U-turning, keeping oil prices under downward pressure.
Russia launched a large-scale missile and drone attack on Kyiv overnight, escalating the conflict but with no new market-moving implications beyond ongoing geopolitical risk.