Oil Prices Up 2.5% As OPEC+ Agrees To Maintain Production Levels

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OPEC+ stuck to the script at Monday’s Joint Ministerial Monitoring Committee (JMMC) meeting, offering no changes to current output policy and little surprise for market watchers. The virtual meeting—its 61st—reviewed production data from May and June and confirmed what most already suspected: while the group remains on track with its broad plans, not every member is keeping pace. The committee emphasized once again the “critical importance” of full conformity with the agreed production levels, especially in light of…