OPEC expected to discuss raising August output target by about 188,000 bpd.
OPEC’s crude oil production surged in June, supported by the resumption of exports through the Strait of Hormuz following the US-Iran peace agreement, a Bloomberg survey showed. 
Total output by OPEC members increased by 2.34 million barrels per day (bpd) to 18.75 million bpd last month. However, production remained about 7.3 million bpd, or 28%, below pre-war levels.
Investors are now awaiting an online meeting of the OPEC+ alliance scheduled for Sunday, where members are expected to discuss raising the group’s August production target by approximately 188,000 bpd.
OPEC expected to discuss raising August output target by about 188,000 bpd.
OPEC’s crude oil production surged in June, supported by the resumption of exports through the Strait of Hormuz following the US-Iran peace agreement, a Bloomberg survey showed.
Total output by OPEC members increased by 2.34 million barrels per day (bpd) to 18.75 million bpd last month. However, production remained about 7.3 million bpd, or 28%, below pre-war levels.
Investors are now awaiting an online meeting of the OPEC+ alliance scheduled for Sunday, where members are expected to discuss raising the group’s August production target by approximately 188,000 bpd.
