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Oil Drops as Larger OPEC+ Supply Increase Raises Glut Concerns

GenevaTimes by GenevaTimes
July 7, 2025
in Business
Reading Time: 1 min read
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Brent slid as much as 1.6% toward $67 a barrel after falling 0.7% on Friday, and West Texas Intermediate was below $66. The group led by Saudi Arabia decided on Saturday to increase supply by 548,000 barrels a day, putting OPEC+ on track to unwind its most recent output cuts a year earlier than planned.

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