Oil prices rise as OPEC+ increases production

Oil prices are ticking upward again as OPEC+ announced another planned production hike—this time by 548,000 barrels per day in August. The move reflects confidence in global economic stability and builds on earlier increases aimed at reclaiming market share after years of restraint. Prices responded quickly, climbing above $69 for Brent and $67 for West Texas Intermediate. Still, with even more supply expected later this year, analysts suggest this bump may be short-lived as the market adjusts to rising output. Hannah Parker with Quartz has the full story.