Opec-Plus Crude Output Surges Again

Opec-plus members boosted crude oil production for the second consecutive month in July, according to Energy Intelligence's preliminary assessment. The group's output rose by 2.19 million barrels per day (b/d) to reach a total of 34.38 million b/d.

This increase marks the second time this year that Opec-plus has raised its crude production levels. The group consists of 21 member countries, including major oil producers like Saudi Arabia and Russia.