7 OPEC+ countries agree to expand monthly oil production modestly as prices slide

AI Summary

Seven OPEC+ countries have agreed to modestly increase their oil production next month, aiming to boost supply amidst declining fuel prices. This decision follows geopolitical tensions including the U.S. and Israel's conflict with Iran, influencing global energy markets.

A handful of countries in the OPEC+ oil-producing alliance plan to increase their outputs modestly next month, which would bring more oil online after fuel prices have fallen to levels not seen since before the U.S. and Israel’s war with Iran. The Organization of the Petroleum Exporting Countries and its allies — collectively known as ...