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The Nexus
BUSINESSJul 5 · 22:02 UTCBLOOMBERGYongchang Chin

Oil Drops as Flows in Hormuz Persist and OPEC+ Flags More Supply

Oil prices dropped due to sustained flows through Hormuz and increased supply flagged by OPEC+. Saudi Aramco aims to expand into refining and chemical production to align with growing demand and support economic diversification.

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Saudi AramcoorganizationHormuzplaceOPEC+organizationRas Tanura oil refinery and oil terminalplace
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