OPEC’s Oil Surge May Not Be Enough to Lower Prices

OPEC’s Oil Surge May Not Be Enough to Lower Prices

The Organization of the Petroleum Exporting Countries (OPEC) recently announced that it wanted to increase its oil supply. But will it be enough to lower gas prices? Why would an increase in oil supply actually lead to higher prices? Some experts expect this to happen. Here is what they said. Key Points Oil production is only one factor contributing to oil prices. International conflict, Trump’s tariffs, and more can cause them to increase. T…

Oil prices ended in sharp decline on Thursday, following the announcement of the new phase of Donald Trump's trade offensive, which decided to impose massive tariffs on products imported into the United States.

Oil Prices Lose 6.6% amid Tariffs, Production Increase

Oil prices have plunged further after President Donald Trump's tariffs and OPEC+'s decision to increase production at a faster rate than previously announced, leading to their worst decline since 2022.

The commodity followed the poor performance of risky assets in the trading sessions this Thursday (3)