Commodities Buzz: OPEC+ holds steady on output, eyes July hike decision

OPEC+ kept its oil output policy unchanged but agreed to create a framework for setting new production baselines for 2027. The alliance, which includes OPEC members and key partners like Russia, focused on long-term planning while maintaining current supply levels. However, attention now shifts to a separate meeting on Saturday, where eight OPEC+ nations are expected to decide on a potential oil production increase for July, which could influence market direction in the short term.

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