Oil fell after OPEC+ agreed to increase output targets starting August, which could add to global supply. The drop is reinforced by recovering exports from key producers via the Strait, suggesting improved flows into the market. Net effect is a near-term bearish supply impulse for crude.
Oil fell after OPEC+ agreed to increase output targets starting August, which could add to global supply. The drop is reinforced by recovering exports from key producers via the Strait, suggesting improved flows into the market. Net effect is a near-term bearish supply impulse for crude.
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Request DemoOverall Sentiment
mildly negative
Sentiment Score
-0.25
