OPEC+ sees lower global oil oversupply as it prepares to set Sep output targets

OPEC and its allies are remaining mum about their intentions when they meet Aug. 3 to decide on September production quotas, but an analysis from the group shows a lower global oil supply surplus than previously estimated. The surplus was downgraded to 800,000 b/d for 2022 compared with 1 million b/d in the last analysis before the group’s June 30…