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Oil Slips after OPEC+ Agrees to Another Big Output Hike in SeptemberSingapore, 4 Aug (ONA) — Oil prices slipped in early Asian trade today after OPEC+ agreed to another large production hike in September.
Brent crude futures fell 40 cents, or 0.57%, to $69.27 a barrel while US West Texas Intermediate crude was at $66.96 a barrel, down 37 cents, or 0.55%, after both contracts closed about $2 a barrel lower on Friday.
OPEC+ agreed on Sunday to raise oil production by 547,000 barrels per day for September, the latest in a series of accelerated output hikes. —Ends/AG
