# Oil prices jump despite OPEC+ announcing another sharp production hike - MarketWatch

> 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.

- Date: 2025-06-01 · published 2025-06-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/24400-oil-prices-jump-despite-opec-announcing-another-sharp-production-hike
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

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.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-prices-set-to-drop-more-as-opec-agrees-to-another-sharp-production-hike-077766c7

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.