Oil Set for Weekly Dip on OPEC+ Output Plans

Crude oil prices were set for a weekly decline today, following a report that OPEC+ was planning to add another 411,000 barrels daily to its output in July in an extension of its accelerated rollback of output controls. At the time of writing, Brent crude was trading at $64.06 per barrel, with West Texas Intermediate at $60.80 per barrel. Both were down by some 2% from Monday. According to a Reuters report, a stronger U.S. dollar contributed additionally to the weekly trend in oil prices. The dollar rally came on the back of Congress passing the…