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Oil prices sank around 3% on Thursday as OPEC+ confirmed it would only increase output in August by as  much as previously announced despite tight global supplies, but left the market wondering about future output. This comes as a result of the OPEC+ meetings which included Russia and discussed strategic cooperation. 

Oil dips as supply concerns linger and OPEC+ sticks to policy

Oil prices sank around 3% on Thursday as OPEC+ confirmed it would only increase output in August by as  much as previously announced despite tight global supplies, but left the market wondering about future output. This comes as a result of the OPEC+ meetings which included Russia and discussed strategic cooperation. 

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