AIFortuneabout 2 hours ago
OPEC+ raises oil output as glut fears grow
3 min read
OPEC+ agreed to raise oil production by 188,000 barrels per day from August, the fifth consecutive monthly increase. Brent crude trades around $72 per barrel, down from an April peak of $126. Analysts at Morgan Stanley and Goldman Sachs warned the market could face a glut next year if production continues outpacing demand.
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