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OPEC+ eight leading members decided to increase oil production by 206,000 bpd in May compared with April levels, according to TASS. The next OPEC+ meeting is scheduled for May 3.
The increase is a paper adjustment that adds little physical supply while Hormuz is disrupted. Traders will watch the May 3 meeting for signals on future supply policy.
tass.comApr 5, 2026After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.
After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
