Oil falls 2% on uncertainty over future OPEC-plus output, recession fears
LONDON (Reuters) -Oil prices fell on Thursday as OPEC+ confirmed it would only increase output in August as much as previously announced despite tight global supplies but left the market wondering about future output by not discussing plans for September.
Brent crude futures for September were down $2.02, or 1.8%, at $110.43 a barrel. The August contract, which expires on Thursday, was down $1.27, or 1.1%, at $114.99.
U.S. West Texas Intermediate (WTI) crude futures fell $2.24, or 2%, to $107.54.
The OPEC+ group of producers, including Russia, on Thursday agreed to stick to its output strategy after two days of meetings. The producer club avoided discussing policy from September onwards.
