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On June 2, eight key OPEC+ members agreed to raise production by 411,000 barrels per day from July. The group is unwinding voluntary cuts made over the past five years.
The article points to tensions between Saudi Arabia and Russia behind the decision.
Steady OPEC+ volume increases add crude supply and push prices lower over time. Weaker crude reduces energy costs and eases pressure on biofuel demand for oils.
reuters.comAhmad GhaddarJun 2, 2025After 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.
After 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.
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.
