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Oil prices rose on June 1 despite OPEC+ agreeing to a third straight monthly hike of 411,000 bpd for July. The increase targets over-producers such as Iraq and Kazakhstan and is meant to win back market share from US shale producers.
Analysts expect crude prices to fall over the longer term.
Expected longer-term oversupply from OPEC+ points to lower energy costs for feed and biofuel production. Near-term prices can still rise on other factors.
marketwatch.comMike MurphyJun 1, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
