Oil prices lower on Middle East hopes and as OPEC+ boosts production

Oil prices were lower on Monday morning after OPEC+ boosted production for September and US President Donald Trump called off a planned strike on Iran, putting downward pressure on prices.

HONG KONG: Oil prices tumbled Monday (Aug 3) as Donald Trump said fresh talks with Iran will begin later in the day, while the yen extended gains after US and Japanese officials confirmed a rare joint intervention to prop up the currency.The positive development in the five-month Middle East war did little to support A

Oil prices dropped significantly as United States and Iran negotiations offered hope for de-escalation. Uncertainty surrounds these talks and ongoing security risks persist along vital shipping lanes. Brent crude futures experienced a sharp decline after President Trump announced potential discussions with Iran. This f

OPEC+ members, including Saudi Arabia and Russia, agree to boost oil production by 188,000 barrels per day from September. Learn how this impacts global su

Saudi Arabia, Russia and five other key members of OPEC+ agreed in an online meeting Sunday to boost oil production by 188,000 barrels a day from September, against a backdrop of disruption caused by the Mideast war. "The seven participating countries decided to implement a production adjustment of 188

Indian Oil Corp boost spot oil buy amid Middle East crisis  Reuters