Oil prices inches lower after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies, according to Reuters.
Brent crude futures slid 24 cents, or 0.33 per cent, to $71.88 a barrel by 0010 GMT after settling 0.45pc higher on Friday. US West Texas Intermediate crude was at $68.58 a barrel, down 11 cents, or 0.16pc.
