Poging GOUD - Vrij
Oil prices slump after OPEC+ hike
The Mercury
|May 06, 2025
SAUDI Arabia, Russia and six other members of the oil cartel announced over the weekend an output increase of 411 000 barrels a day for June, a month after a similar move had already caused prices to fall.
-
The price of crude has also been sliding because of fears of a global economic slowdown on the back of Trump's tariff onslaught.
The Opec+ move "confirms a stark turnaround away from the production cuts that have persisted since 2022" said a Deutsche Bank research note.
Oil prices fell almost four percent before paring back some losses.
Brent, the international benchmark, was trading at just under $60 per barrel at around 7.15am GMT.
Some analysts pointed to pressure from Trump to lower prices and expectations of declining Iranian oil exports amid tighter sanctions, as possible reasons for the unexpected move.
Others said the motivation was unclear.
Dit verhaal komt uit de May 06, 2025-editie van The Mercury.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN The Mercury
The Mercury
FRANK STEWART BRIDGE
A civil court action, involving a complaint by ‘one Bologna against one Wiener, elicited this from the judge: “I never sausage a case.”
1 mins
January 08, 2026
The Mercury
The appointment of Andy Mothibi as NDPP is welcomed
THE Inkatha Freedom Party welcomes the appointment of Advocate Andy Mothibi as the new National Director of Public Prosecutions (NDPP).
1 mins
January 08, 2026
The Mercury
Court says workplace rules must be consistent
WORKPLACE rules must be clear and consistently applied and not only exist on paper; the Labour Court has ruled in upholding a CCMA ruling that the dismissal of an employee for using a vehicle without permission is substantively unfair.
2 mins
January 08, 2026
The Mercury
Families speak as 14 South Africans detained in Thailand face deportation
FOURTEEN South Africans who were detained in Thailand are expected to be deported back to South Africa in the coming days after allegedly being recruited for overseas jobs that did not materialise as promised.
1 mins
January 08, 2026
The Mercury
Trump is ushering in a new world order
Trump has done it again! The leader of the Free World has flexed his muscles through the unprecedented capturing of a true dictator - Nicolas Maduro, leader of the United Socialist Party and president of Venezuela.Critics of Trump wasted no time accusing him of war crimes, and all sorts of unwarranted speculations have now surfaced.
1 mins
January 08, 2026
The Mercury
Challenging NDPP appointment process sought to strengthen fairness, credibility
ON DECEMBER 29, B Xulu and Partners Incorporated (BXI) filed urgent papers in the Pretoria High Court seeking an interim interdict to restrain the President from appointing a new National Director of Public Prosecutions (NDPP) pending a review of the Advisory Panel's recommendation report of December 12, 2025 and a full record of the NDPP selection process is produced.
3 mins
January 08, 2026
The Mercury
Two men arrested for brutal tavern assault in Pietermaritzburg
TWO men have been arrested and charged with assault with intent to cause grievous bodily harm following a severe attack on a woman at a Pietermaritzburg tavern, which was captured on CCTV footage and widely shared on social media.
1 mins
January 08, 2026
The Mercury
New vehicle sales surge past pre-pandemic levels in 2025
According to the Naamsa aggregate new vehicles sales rose to 597 000 units in 2025
3 mins
January 08, 2026
The Mercury
Arsenal must win trophies to leave a legacy, says Arteta
ARSENAL manager Mikel Arteta said the Premier League leaders must win trophies if they are to be remembered like the \"Invincibles\" side that last won the title for the Gunners in 2004.
2 mins
January 08, 2026
The Mercury
Captain Ruan Nortje stands by Willie le Roux as Felix Jones joins Bulls training
WILLIE le Roux has always been a player that the fans tend to either love or hate, and it was the former emotion that pervaded Bulls supporters at the conclusion of last week’s enthralling north-south derby in Cape Town.
2 mins
January 08, 2026
Listen
Translate
Change font size