Oil falls more than 1% after OPEC+ agrees to boost supply

Brent crude was down $1, or 1.4%, at $72.59 a barrel by 0037 GMT, after falling nearly 3% last week. U.S. oil was down 94 cents, or 1.3%, at $70.87 a barrel, having declined almost 4% last week. OPEC+ ministers agreed on Sunday to increase oil supply from August to dampen prices that earlier this month climbed to the highest in around two and a half years as the global economy recovers from the COVID-19 pandemic.

from Markets-Economic Times https://ift.tt/3rj7xfC