OPEC+ to Raise Oil Output Ceiling Again in September

OPEC+ has agreed to raise its oil production ceiling again, with a small quota hike set for September. The increase, backed by Saudi Arabia, Kuwait, Oman, and four other allies, amounts to 188,000 barrels per day. This move completes the rollback of voluntary production cuts that were previously in place. The decision was made in principle, according to delegates, and marks another step in gradually restoring output.