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OPEC+ delivers “slap to the face” with a minuscule 86-second lifeline; US crude inventories rise unexpectedly
  • OPEC+ members agreed to increase the target output by 100,000 bpd, a minute fraction of US hopes.
  • US crude inventories rose by 4.5 million barrels against an expected drawdown of 1.7 million barrels.
  • Crude prices fell 3% in trading today, following a softer market outlook.
August 3, 2022

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