Representative imageOil prices edged lower early on Monday after OPEC+ agreed to raise production targets again from August, while improving exports from the Gulf and higher Russian shipments fuelled expectations of increased global crude supplies.While Brent crude slipped 0.58% to $71.70 a barrel, WTI crude was down 0.36% at $68.44 a barrel around 7:30 am IST. The latest decline came after Sunday's OPEC+ meeting, where the oil-producing alliance agreed to lift output targets by a combined 188,000 barrels per day from August. It is the fifth straight month that the group has opted to increase production. The latest increase follows similar output hikes announced for June and July.Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman are participating in the latest production inc