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OPEC+ Might Increase Oil Output in August
Sources expect the OPEC+ coalition countries to agree on gradually increasing oil production targets starting in August, with an approximate increase of 188,000 barrels per day during their upcoming meeting, in an effort to support supplies amid falling prices and to ease tensions caused by wars and economic measures. Additionally, production deviations and market changes have led oil prices to return to pre-war levels, despite decreased production in some member countries.
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