Jul. 5 at 2:29 AM
$ET Oil is getting ready to drop significantly and natural gas should see a pretty good rise!
OPEC+ recently approved multiple consecutive monthly increases in their oil output targets, adding 188,000 barrels per day (bpd) to quotas for both June and July.This quota increase by the seven remaining participating nations is part of a gradual rollback of the 1.65 million bpd production cuts that were initially agreed upon in 2023. These adjustments continue against the backdrop of recent disruptions in Gulf shipping routes and the unexpected departure of the United Arab Emirates from the cartel.
