Oil prices recede as Opec+ agrees production hike

Eight member nations to boost output by a combined 548,000 barrels per day in August

Opec secretary general, Haitham Al Ghais, on the sidelines of the St Petersburg International Economic Forum in Russia on 20 June 2025. — Opec secretary general, Haitham Al Ghais, on the sidelines of the St Petersburg International Economic Forum in Russia on 20 June 2025.Photo: AP/SCANPIX

Amanda Battersby

Asia Bureau ChiefSingapore

Published 7 July 2025, 05:04Updated 7 July 2025, 07:31

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