OPEC+ Boosts August Oil Production, Eyes Lower Gas Prices
OPEC+ Boosts August Oil Production, Eyes Lower Gas Prices The OPEC+ alliance of oil-exporting nations has announced a significant increase in crude oil production, adding 548,000 barrels per day to global supply starting this August. The decision, made by eight key members including Saudi Arabia and Russia at a virtual meeting on Saturday, July 5th, aims to address a “steady global economic outlook” and low oil inventories. This collective boost is expected to provide relief to consumers, potentially contributing to…