Stocks worldwide have varying performance and oil prices decrease as OPEC+ announces intentions to increase production in August.

On Monday, European shares experienced a boost as markets in Asia took a step back and US futures rose in anticipation of Wall Street's reopening after the Independence Day holiday. However, oil prices slipped after the announcement by OPEC+ on Sunday that seven of its members are planning to increase oil production by a total of 188,000 barrels per day in August. This marks the fifth consecutive month that OPEC+ has agreed to raise output.

Among the countries increasing their output are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. Despite this decision, there is still uncertainty surrounding oil supplies as talks with Iran to fully reopen the Strait of Hormuz have been put on hold due to funeral ceremonies for Ayatollah Ali Khamenei, which are expected to continue for several days. In European share trading, France's CAC 40 saw a rise of 0.3% to 8,529.96, while Germany's DAX edged 0.1% higher to 25,805.02.

The FTSE 100 in Britain remained unchanged at 10,678.07. Meanwhile, the S&P 500 future experienced a gain of 0.5% and the Dow Jones Industrial Average future was up 0.1%. In Asian trading, Japan's Nikkei 225 remained virtually unchanged at 69,737.69.

However, tech giant SoftBank Group Corp. saw a decline of 3.1%, while computer chipmaker Tokyo Electron shed 1.2%. South Korea's Kospi also experienced a dip of 0.5% to 8,051.33.

On the other hand, the Hang Seng in Hong Kong saw a gain of 1.1% to 23,616.32, and the Shanghai Composite index inched down slightly to 4,041.24. Australia's S&P/ASX 200 fell 0.2% to 8,831.00. In currency trading, the US dollar rose to 162.29 Japanese yen from 161.32 yen, continuing its ascent despite rumors of possible intervention to prevent the yen's decline.

This time last year, the dollar was trading at 140 yen levels. The euro, on the other hand, saw a decrease from $1.1437 to $1.1419. It is worth noting that markets in the US were closed on Friday, July 3, for the Independence Day holiday, which fell on a Saturday this year.

PTI and Orissa POST, Odisha's No.1 English daily, provided this report.