![Oil pump jacks in Stanton, Texas. Oil prices have increased this year as Opec+ reined in production to tighten the market. AFP](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/Y7POROIDJ6KLEDQVDLLU6TUHPM.jpg?smart=true&auth=852f9871575b5143d5155ff992d4e10cb2dc46da14d26df1abd52d0b63655093&width=400&height=225)
Oil pump jacks in Stanton, Texas. Oil prices have increased this year as Opec+ reined in production to tighten the market. AFP
Oil pump jacks in Stanton, Texas. Oil prices have increased this year as Opec+ reined in production to tighten the market. AFP
Oil prices inch down amid slowing US inflation rate and Fed rate cut hopes
Investor confidence was boosted after data showed US price pressures continued to ease in June