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Tuesday, July 22, 2025 9:24 GMT
Following the first meeting since the escalation of Israel–Iran hostilities, OPEC+ signalled its intent to push supply more aggressively in August (500 kb/d) than the market had expected, and is now approaching a full unwind of the voluntary 2.2 mb/d curtailment, according to leading commodity market intelligence firm Sparta. At first glance this may seem a curious move if one looks only at flat price, which has been treading water in the mid-to-high US$60s since Middle-East tensions eased in...More