OPEC+ output hike weigh on oil prices
Oil prices edged lower on Monday as the Organization of the Petroleum Exporting Countries and its allies moved to raise output targets further from August, while exports from major Gulf producers through the Strait of Hormuz showed signs of recovery,
July 06, 2026 (MLN): Oil prices edged lower on Monday as the Organization of the Petroleum Exporting Countries and its allies moved to raise output targets further from August, while exports from major Gulf producers through the Strait of Hormuz showed signs of recovery, pointing to a potential rise in global supply. Currently, Brent crude futures is down, 0.35%, at $71.87 per barrel, according to data by Mettis Glo...