Oil Drops as Markets Digest OPEC+ Supply Decision

Oil prices dropped to their lowest in a week on Monday as markets digested OPEC+'s decision to implement another significant output increase in September. US Oil Majors Reign Supreme as Competitors All Lose Market Edge - US oil majors ExxonMobil and Chevron are increasingly pulling ahead of their European peers, with both companies reporting their highest ever production in Q2 2025, at 4.63 million boe/d and 3.4 million boe/d, respectively.  - In stark contrast to US peers, Shell’s production saw an annual decline of 4.2% to 2.65 million…