OPEC+ oil producers stick to their guns with another big hike for July

SummaryEight OPEC+ members met online OPEC+ cites steady economic outlook, healthy fundamentals Started unwinding output cuts in April For more detail on OPEC+ unwinding its cuts, see Explainer LONDON/MOSCOW, May 31 (Reuters) - The world’s largest group of oil producers, OPEC+, stuck to its guns on Saturday with another big increase of 411,000 barrels per day for July as it looks to wrestle back market share and punish over-producers. Having spent years curbing production - more than 5 million barrels a day (bpd) or 5% of world demand - eight OPEC+ countries made an modest output increase in April before...