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Oil prices fell about 2% to a 12-week low after OPEC+ decided to proceed with a planned April output increase. The group has been cutting output by about 5.85 million bpd since 2022.
The price drop reflects the market absorbing a supply increase, which lowers energy costs for feed processing and transport. Further declines would also pressure biofuel margins.
reuters.comScott DisavinoMar 3, 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.
