WS #11494
OPEC+ agrees to 188,000 bpd production increase for August, fifth consecutive monthly hike, pushing Brent to $71.88 and WTI to $68.58, reinforcing the de-escalation narrative. Russia launches large-scale missile and drone attack on Kyiv, killing at least 3 and damaging residential buildings, escalating Ukraine conflict but with limited market impact given ongoing war.
OPEC+ Output Increase and Oil Price Decline
OPEC+ agrees to 188,000 bpd production increase for August, fifth consecutive monthly hike, pushing Brent to $71.88 and WTI to $68.58, reinforcing the de-escalation narrative.
Russia launches large-scale missile and drone attack on Kyiv, killing at least 3 and damaging residential buildings, escalating Ukraine conflict but with limited market impact given ongoing war.