OPEC+ has decided to increase oil production by 411 000 barrels per day starting in June. This decision is anticipated to further decline crude prices, a trend already set in motion by recent tariff announcements from President Trump. The increase in output comes as part of OPEC+’s ongoing efforts to manage global oil supply effectively....
OPEC+ has announced plans to increase oil production in May 2025. The eight participating countries, which include Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, will implement a production adjustment of 411 thousand barrels per day. This adjustment represents three monthly increments and aims to support the stability of the oil market....
The UAE has confirmed its commitment to ensuring stability in the oil market by adhering to additional voluntary production adjustments aimed at balancing supply and demand. This announcement comes as Opec+ has decided to implement a planned increase in oil output starting in April 2025. On Monday, Opec+ member countries, including Saudi Arabia, Russia, Iraq,...