MCX News: Oil Prices Dip 1% Amid OPEC+ Output Hike Speculation and U.S. Inventory Build
May 22, 2025 — Oil prices dropped by 1% on Thursday as reports emerged that OPEC+ is considering a production increase for July, raising concerns that global oil supply may soon outpace demand. According to Bloomberg News, OPEC and its allies (OPEC+) are in discussions to raise production by as …