OPEC+ agrees fresh August oil output hike as Strait of Hormuz reopens
OPEC+ has decided to raise its oil production targets once again, agreeing to increase output quotas by 188,000 barrels per day (bpd) from August as the group continues to unwind earlier production cuts.The decision, taken during an online meeting, comes after similar quota increases for June and July. Between April and July, the seven core…