OPEC+
U.S. crude inventories fell by 3.9 million barrels, exceeding expectations for a substantial decrease
OPEC projects better global economic performance in the second half, improving oil demand expectations
The June PMI rose to 53.5, indicating ongoing expansion despite slight deceleration in momentum
Travel and tourism surges are projected to continue, boosting demand for gasoline and diesel
Prices fluctuated as increased travel contends with concerns over U.S. tariffs and economic growth
Traders consider whether the U.S. will impose tariffs on nations trading with Russia.
Solar power alone grew by 23 percent year-on-year and has averaged 43 percent growth annually over the past decade
Brent crude futures reached $70.51, while WTI saw gains amid ongoing tariff uncertainty and sanctions
OPEC Secretary General emphasized the need for balanced policies to achieve energy security and climate goals
OPEC+ agreed to increase production by 548,000 barrels per day in August, pressuring oil prices
The long-term projection reflects increasing energy needs in developing nations and anticipated investments.
