WTI crude oil slips to a one-week low after the Organization of Petroleum Exporting Countries and allies (OPEC+) approved another significant production increase in September. OPEC+ agreed to boost oil production by 547K barrels per day (bps) for September as concerns mount over potential supply disruptions linked to Russia. The weekly inventories data is expected to provide further cues. Currently, the counter is trading at $66.16 per barrel, down 0.20% on the day.

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