Oil Cartel Stops Trying to Keep Prices High, Increases Supply Instead

OPEC+, a group of oil-producing countries that usually work together to keep prices up, voted July 5 to pump more oil in August—for the fifth month running. Oil prices have already fallen back to before the war. But OPEC+ is raising output anyway. This shows the group has changed strategy: they're moving away from limiting supply to prop up prices. The question now is whether members actually follow through.