OPEC+ Boosts Output Amid Oil Price Drop | San Antonio News

OPEC+ is ramping up oil production by 188,000 barrels a day for August, marking the fifth straight month of increases as Saudi Arabia, Russia, and Algeria lead the push to stabilize markets. Prices have plummeted to under $72 a barrel—down from nearly $120 in March—after global supply chains were disrupted by the Iran-U.S. conflict. While an interim deal has eased shipping through the Strait of Hormuz, traffic remains below pre-conflict levels and Iran continues issuing warnings to tankers. Experts predict Gulf oil output won’t fully recover until early 2027, with ripple effects already felt in gas prices and everyday costs. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/98954684dc99e76d