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OPEC+ agreed to raise oil production by about 547,000 barrels per day for September, completing the phase-out of its largest voluntary output cut. Oil prices were reported weaker on the news.
Additional supply from OPEC+ adds to oversupply concerns, pressuring crude prices and, through energy costs, feed production and freight expenses.
cnbc.comReutersAug 3, 2025
reuters.comOlesya AstakhovaAug 3, 2025After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% 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.
