Oil retreats after OPEC+ seals pact to loosen the taps into 2022
The oil price retreats after OPEC and its allies on Sunday agreed to boost oil production into 2022, adding millions of barrels of crude oil to the market. The alliance will continue to hold talks every month from September.
Oil declined after OPEC+ agreed to boost production into 2022, resolving a bitter internal dispute that had shaken the alliance with a pledge to restore millions of barrels of crude output to the energy market.
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