OPEC+ output surge triggers significant dip in global oil prices

Monday, May 5, 2025, 10:13 am

In a move that rattled global markets, OPEC+ announced a sizeable production increase, triggering a noticeable fall in crude prices as investors reacted amid thin holiday trading. The production boost has intensified concerns of oversupply and prompted recalibrations in market dynamics.

citynews.ca / S&P/TSX composite down in late-morning trading as oil falls, U.S. stocks mixed

TORONTO — Canada’s main stock index was down in late-morning trading, as a drop in the price of oil weighed on the energy sector, while U.S. stock markets were mixed. The S&P/TSX composite index was down 12.57 points at 25,018.94. In New York, the Dow Jones industrial average was up 71.72…

financialpost.com / Posthaste: What happens when OPEC+ messes with the oil market in a world battered by tariffs

The reason why is not clear, but the outcome is — lower crude prices

globalnews.ca / Oil prices dip, global shares mixed amid thin holiday trading

During the weekend, the OPEC+ group of eight nations announced it will raise its output of oil by 411,000 barrels per day as of June 1, stepping up production increases.

permalink / 3 stories from sources in 4 hours ago #economy #globaltrade #energy

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