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Oil Slips to 2025 Lows Following OPEC's Output Hike, Stocks Slide
U.S. Oil E&Ps to Underperform on OPEC+ Plan to Restart Production, Experts Warn
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Trump's pressure was effective, OPEC+ unexpectedly decided to start increasing oil supply, leading to a sharp decline in oil prices.
OPEC+, led by Saudi Arabia and Russia, will increase daily production by 0.138 million barrels in April. This is the first step in a gradual increase plan spanning several months, aimed at gradually restoring Crude Oil Product output. OPEC+ issued a statement confirming the decision to start increasing oil supply, and OPEC+ may decide to suspend or reverse this decision based on market conditions.
