OPEC+ may boost oil production by over 500,000 barrels per day in August

OPEC+ is considering a faster oil production increase at a virtual meeting, possibly boosting supplies by over 500,000 barrels per day in August. This move aims to regain market share and lower prices, benefiting President Trump. Brent futures near $68/barrel, with concerns about oversupply and potential price drops to $60 in the future.

Read more at Yahoo Finance: OPEC+ Considers Accelerating Oil Production More Than Expected