OPEC+ Increases July Oil Supply by 188,000 Barrels Per Day, Contributing to Price Drop

OPEC+ decided to boost oil supply by an additional 188,000 barrels per day in July 2026, as part of a 'gradual and orderly reversal' of previous voluntary cuts. This decision has contributed to oil prices falling from $112 to $89 per barrel in under two months, reaching the lowest level since the cartel began production cuts in 2022.