Seven member countries of the OPEC+ alliance have agreed to increase their oil production by 188,000 barrels per day starting in July. This decision follows a virtual meeting on Sunday where the group reviewed global market conditions.

• An increase of 188,000 barrels per day in oil output for July.
• The decision was made by seven OPEC+ countries: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.
• This marks the fourth consecutive month of production increases, highlighting a collective commitment to oil market stability.

Oil prices experienced an increase as Iran launched missiles at Israel, potentially jeopardizing a fragile ceasefire agreement.

• The global benchmark Brent crude oil price jumped by 2.6% to $95.50 a barrel.
• Iran's Islamic Revolutionary Guard Corps (IRGC) issued warnings of further strikes.
• US President Donald Trump reportedly urged Israel not to retaliate, aiming to preserve a potential deal with Iran.