00:00It's Benzinga bringing Wall Street to Main Street.
00:02OPEC Plus approved an oil production quota increase of about 188,000 barrels per day
00:08from September, completing the rollback of a voluntary 1.65 million barrel per day output cut,
00:15first agreed in 2023, according to CNBCI. The producer group said nothing about production
00:21plans for the fourth quarter. Analysts said a pause remains likely as OPEC Plus shifts its
00:26focus to managing potential oversupply and preparing 2027 production quota negotiations.
00:32Oil prices rose Friday after Iran attacked two tankers transiting the Strait of Hormuz.
00:38West Texas Intermediate settled at 84 next seven per barrel, while Brent Crude closed at 90
00:4412. OPEC Plus will also maintain a separate layer of roughly 2 million barrels per day
00:51in output cuts through the end of the year. For all things money, visit Benzinga.com.
00:56West Texas Intermediate
00:56West Texas Intermediate
00:56West Texas Intermediate
00:56West Texas Intermediate
Comments