मैगज़्टर गोल्ड के साथ असीमित हो जाओ
10,000 से अधिक पत्रिकाओं, समाचार पत्रों और प्रीमियम कहानियों तक असीमित पहुंच प्राप्त करें सिर्फ
कोशिश गोल्ड - मुक्त
Oil prices fall after Opec+ agrees to output hike
The Straits Times
|May 06, 2025
Crude oil prices buckled on concerns of a global glut after Opec+ agreed to another bumper output increase, adding to supply at a time when demand is challenged by the drag from US President Donald Trump's global trade war.
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Global benchmark Brent tumbled by as much as 4.6 per cent towards US$58 a barrel as the week's trading kicked off, while West Texas Intermediate was near US$56.
The decision by Organisation of the Petroleum Exporting Countries and its allies was taken at a meeting on May 3, with the group's leaders seeking to punish overproducing members, including Kazakhstan, in a strategy shift that had already sent crude prices plunging.
The latest hike of more than 400,000 barrels a day from June matched a similar increase announced in April, when the group made the shock decision to bring back triple the planned volume for May.
The alliance - led by Saudi Arabia and Russia - has been reversing prolonged output curbs that were meant to support prices, but which cost Opec+ market share to rival drillers.
यह कहानी The Straits Times के May 06, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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