OPEC+ has announced a significant increase in oil production by 411,000 barrels per day for July, aiming to reclaim market share and address over-production among its members. This bold move has left analysts questioning the implications for crude prices and global supply.
Oil prices opened 1% higher as the U.S. vowed to continue military action against Yemen’s Houthis, disrupting global commerce. Analysts predict slower growth in oil demand amid economic concerns.
