OMC and Paint Stocks Gain as Crude Prices Fall on OPEC+ Output Hike

Shares of oil marketing and paint companies rose after crude prices dropped on July 7, following OPEC+’s surprise decision to boost oil production by 5.48 lakh barrels per day in August—higher than previous monthly increases. Brent crude fell to $67.80 and WTI to $66.02 per barrel. The production hike reflects optimism about global economic conditions, with further increases expected in September.