Highlights OPEC+ August output could rise just 400,000 b/d Monitoring committee adjourns without recommendation Brent-WTI spread narrowest since Oct 2020 Crude futures settled higher July 1 after a smaller-than-expected bump in OPEC+ crude output, even as the group’s monitoring committee adjourned without a production recommendation. RNYMEX August WTI settled $1.76 higher at $75.23/b and ICE September Brent settled $1.22 higher at $75.84/b. OPEC and its allies do not yet have a plan for how much crude to pump in the months ahead, after a fractious monitoring committee meeting ended July 1 with no recommendation. A tentative deal for the 23-country OPEC+ alliance to increase crude output by 400,000 b/d monthly through December was left hanging in the balance, mainly by resistance from the UAE, according to sources involved in the talks. Kazakhstan and Iraq had also expressed […]