OPEC+ Plans Larger Oil Output Increase in August
TL;DR Summary
OPEC+ has agreed to increase oil output by 548,000 barrels per day in August, accelerating production hikes to regain market share amid rising supplies from competitors like the US, and reversing most of its previous cuts since April, citing a steady global economic outlook and healthy market fundamentals.
- OPEC+ speeds up oil output hikes, adds 548,000 bpd in August Reuters
- OPEC+ members agree larger-than-expected oil production hike in August CNBC
- OPEC+ Considers Accelerating Oil Production More Than Expected Bloomberg
- How Traders Capitalized on Oil's Extreme Price Swings Crude Oil Prices Today | OilPrice.com
- OPEC+ considers raising oil output by 550,000 bpd in August, sources say Yahoo Finance
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