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Oil prices dip following OPEC+ output rise
Oil prices slightly declined following the OPEC+ alliance's announcement of increased production levels starting in August, amid a recovery in oil exports from Gulf countries through the Strait of Hormuz. This situation boosted expectations of higher global supplies. Brent crude decreased by 34 cents to reach $71.78 per barrel, while West Texas Intermediate fell by 20 cents to $68.49. However, the planned increase in production still has a limited impact on the market due to disruptions caused by the Israeli-American conflict with Iran.
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