Categories: Business

OPEC+ agrees fresh August oil output hike as Strait of Hormuz reopens

OPEC+ is boosting oil output by another 188,000 barrels daily from August, continuing to reverse earlier cuts. Despite this, actual supply remains below pre-conflict levels due to disruptions impacting key producers. Oil prices have already fallen to pre-war figures, influenced by weaker Chinese demand and strategic reserve releases. The group faces internal shifts with the UAE’s exit and Iraq’s quota requests.

The News Vista

Leave a Comment
Share
Published by
The News Vista
2 months ago

Recent Posts

Uttarakhand CM Dhami announces free bus travel, Pink e-Buses for women on Raksha Bandhan

In a significant announcement, Uttarakhand Chief Minister Pushkar Singh Dhami revealed a series of initiatives…

51 minutes ago

Two resignations, same scam: Why B Nagendra quit Karnataka cabinet again

1 hour ago

Yogi Adityanath participates in Snehbandhan programme on Raksha Bandhan

Uttar Pradesh Chief Minister Yogi Adityanath led Raksha Bandhan celebrations in Lucknow by participating in…

1 hour ago

Punjab: MMSY beneficiaries get post-discharge calls from 104 health helpline

In an effort to enhance patient care, beneficiaries of the Mukh Mantri Sehat Yojana in…

1 hour ago

Teens on Instagram & Facebook teens to get 11 new protections under Meta deal

Meta agreed to an eighteen billion dollar settlement with fifty-two attorneys general. The company will…

1 hour ago

The Dalit enigma: Why Mayawati is going solo in Punjab

Mayawati's Bahujan Samaj Party will contest Punjab's 2027 elections alone. This move highlights the difficulty…

1 hour ago