Oil prices dip as OPEC+ supply hike raises concerns about glut

Jul. 06, 2025 7:30 PM ETBrent Futures (CO1:COM), CL1:COMBy: Rob Williams, SA News Editor1 Comment
Oil pumps and graph

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Crude prices slipped after OPEC+ surprised markets with a significant production increase for August, fueling concerns about oversupply as global demand faces fresh headwinds from US trade policy.

Brent crude (CO1:COM) fell by as much as 1.6% to approach $67 a

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