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News in English (USA) / 03.05.2025 / 17:00

OPEC+ Announces Accelerated Oil Output Increase Amid Falling Prices

OPEC+ has decided to markedly increase oil production for June, agreeing on a hike of approximately 411,000 barrels per day. This decision comes in spite of a drastic decline in oil prices and signals a willingness among member countries, including Saudi Arabia and Russia, to keep supplies flowing. Analysts speculate that this move could further exacerbate the current price slump in the oil market. The organization has moved its meetings forward to finalize the production plans, reflecting an urgent response to the market dynamics. Industry experts are closely monitoring whether these changes will lead to even lower prices in the near future.
Reuters, The New York Times, Financial Times, Crude Oil Prices Today | OilPrice.com, Bloomberg.com, CNBC, Fortune, Yahoo Finance, MarketWatch, News24