OPEC+ to further speed up oil output hikes: Reports

Goldman Sachs Slashes Its Oil Price Forecast Yet Again

Goldman Sachs has further reduced its oil price forecast for this year and next, following OPEC+'s decision to increase production.

U.S. crude oil prices fall after OPEC+ agrees to surge production in June

U.S. crude oil futures fell more than 2% on Monday, after OPEC+ agreed to surge production for a second month.

Oil prices drop as OPEC+ agrees to ramp up supply

The NewsOil prices plunged after the OPEC+ group of oil producers agreed to accelerate production hikes once again.The decision to boost output by 411,000 barrels a day followed another substantial increase earlier this year, and will likely put further pressure on oil prices, which sit near four-year lows over fears of weak economic growth globally.Prices could fall further still, with ING and Goldman Sachs slashing their forecasts for this yea…

The sharp drop in oil was at the centre of attention on Monday May 5th on the markets while London and the main Asian stock exchanges are closed for a holiday. The Organization of Petroleum Exporting Products and its allies (Op+) announced to accelerate its production of black gold in June, despite the overabundance of supply.

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Oil prices drop after OPEC+ decision

Oil Prices Plunge as OPEC+ Accelerates Production Amid Central Bank Bonanza

Oil Prices Plunge as OPEC+ Accelerates Production Amid Central Bank Bonanza Oil prices took a hit on Monday, dropping more than 2% as the OPEC+ group decided to accelerate oil production increases. This decision influenced global markets, with Taiwan's dollar soaring to nearly three-year highs, kicking off a week filled with significant central bank meetings.European shares hovered just below month-long peaks observed on Friday. Concurrently, U.…