OPEC+ oil output: Group to raise supply by 548,000 bpd in August; cites strong demand, low inventories

OPEC+ nations, led by Saudi Arabia and Russia, will boost crude output by 548,000 barrels per day in August. This decision accelerates the rollback of voluntary cuts due to a stabilizing global economy and robust market conditions. The move addresses pressure from consumers and the U.S. to lower fuel prices, despite internal tensions over production targets among member states.

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