Its prices oil They re -noted today (5.5.2025) more than 3%, after OPEC +’s announcement of a production acceleration for June, while prices are already very low.
In the morning transactions in Asia at around 6:00 (Greek time), the West Texas Intermedia (WTI) barrel crashed 3.8% to $ 56.08, while the North Sea Brent oil lost 3.5%, at $ 59.17. On Saturday (3.5.2025), eight OPEC+ member states announced that in June they would mill 411,000 barrels/day, that is, as in May, while the original plan would only provide 137,000 barrels.
And at a time when prices are reduced, due to fears of a world recession that could be triggered by the trade war that has begun by US President Donald Trump.
“OPEC+ threw a bomb on the oil market,” Jorge Leon of Rystad Energy had summarized at the French agency.
“After last month’s signal, the decision (on Saturday) sends a clear message: the organization is changing strategy and seeking to regain market sections after years of cuts,” the analyst had continued.