Oil Prices Bounce Back From OPEC+ Bombshell

Oil Prices Bounce Back From OPEC+ Bombshell

Oil prices rallied aggressively on Tuesday morning, recovering from the OPEC+-induced drop that was sparked by the cartel's decision to unwind production cuts at a faster rate than previously planned. Despite the recovery, uncertainty remains in markets and more volatility is likely.- Oil majors have been surprisingly inert in reacting to oil prices declining by more than $10 per barrel since early April, preferring to wait out the resolution of…

The increase in Opep+'s production weighs on the price of Admin FCE oil 07 May 2025 - 17:51 Oil prices are falling slightly on Wednesday, with an ambient pessimism on the market due to the expected acceleration of Opep+'s production in June, and the ongoing negotiations between Iran and the United States. Vice-President of the United States JD Vance estimated on Wednesday that the negotiations between Americans and Iranians on nuclear were on th…

Oil Markets Recover Following OPEC+ Production Increase » News.ng

Oil prices staged a recovery in global markets after experiencing a significant decline prompted by the recent OPEC+ announcement to boost production volumes amid ongoing oversupply concerns. Market participants evaluated the balance between increased supply and demand forecasts, with expectations that Chinese consumption will strengthen while uncertainties in American markets may diminish. Brent crude futures gained approximately 1.94%, reachin…