Oil prices slipped on Thursday as investors weighed a report that OPEC+ is discussing a production increase for July, stoking concerns that global supply could outpace demand growth. Brent futures fell 66 cents,

OPEC+ plans to raise oil output in July, fueling worries about oversupply and pushing prices down. Combined with rising U.S. crude stocks and slowing demand, the oil market faces growing uncertainty.

OPEC is pumping, oil prices are falling, shale producers are pulling up rigs. Our experts explain how to profit from the upheaval.

Stock markets in the Gulf were trading lower early on Thursday, weighed down by a more-than-1.5% drop in oil prices and growing concerns over a deteriorating fiscal outlook in the U.S.

President Trump indicated the U.S. was close to a deal in which Iran agrees to forgo nuclear weapons, sparking a selloff in oil prices. "You probably read today the story about Iran has sort of agreed to the terms,

Oil prices dropped by more than 1 per cent on Thursday after a report that OPEC+ is discussing a production increase for July, stoking concerns that global supply could exceed demand growth. Brent futures lost $1.

The group’s previous decision to boost output helped push oil prices down. Now, one option under discussion is a 411,000 barrel-per-day increase in July — three times larger than originally planned, sources told Bloomberg.

Oil prices fell on Thursday after a report suggested that OPEC+ plans to boost its production in July amid a surprising buildup in U.S. crude inventory. Brent crude futures fell about 1% to $64.29 per barrel,