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Eight OPEC+ members agreed on July 5 to raise crude output by 548,000 bpd in August, above the 411,000 bpd expected. The group is unwinding 2.2 million bpd of voluntary cuts, and the OPEC Secretariat cited healthy fundamentals and low inventories.
A larger-than-expected supply increase adds barrels to the market and weighs on crude prices, which feed into diesel, fertilizer and freight costs for feed producers.
cnbc.comRuxandra IordacheJul 5, 2025After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% 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.
