Crude oil prices fall after OPEC hikes August output more than expected; MCX crude drops nearly 2%

Crude oil prices fall after OPEC hikes August output more than expected; MCX crude drops nearly 2%

Crude oil prices declined after OPEC agreed to raise production by 548,000 barrels per day in August. Oil prices also came under pressure as US officials flagged a delay on tariffs but failed to provide details on the change.