OPEC+ is considering speeding up its oil production revival even further, and will discuss a hike of more than 411,000 barrels a day for August at a meeting on Saturday, delegates said.
Saudi Arabia is steering the Organization of the Petroleum Exporting Countries to ramp up supplies faster than planned, even as faltering consumption and an impending surplus pressure prices. Oil’s retreat presents a boon for President Donald Trump as he seeks to rein in costs for squeezed consumers.
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