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Four sources told Reuters that OPEC+ will likely raise oil output again in May, a second consecutive monthly increase. The group is also planning to force some members to cut output to compensate for past overproduction.
Expected continued supply growth is bearish for crude, though compensation cuts partly offset the increase. Crude direction feeds into diesel, fertilizer and freight costs.
reuters.comAlex LawlerApr 1, 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.
