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flag OPEC+ delays oil production hikes into 2026, spiking prices amid geopolitical tensions.

flag Oil prices edged up Monday as OPEC+ reaffirmed its plan to delay production increases into early 2026 to prevent a supply surplus. flag Uncertainty over U.S. actions against Venezuela’s oil sector, including former President Trump’s mention of closing Venezuelan airspace, added upward pressure. flag In Europe, renewed fighting in the Russia-Ukraine war—marked by Ukrainian strikes on a Russian refinery and Black Sea tanker attacks—reversed earlier optimism about peace, boosting crude prices.

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