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Oil Prices: OPEC+ Announcement Stuns Market

DeFi Daily News by DeFi Daily News
April 4, 2025
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Oil Prices: OPEC+ Announcement Stuns Market
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The OPEC+ alliance will increase supply by three times the planned amount in May in what delegates described as a deliberate effort to drive down prices to punish the group’s cheats. Crude was already reeling from the onslaught of trade tariffs announced by US President Donald Trump the previous day, and the surprise addition of 411,000 barrels a day by OPEC+ in May turbo-charged the rout. Bloomberg’s Anthony di Paola reports.
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Tags: AllianceAnnouncementCrudeDonald TrumpenergyIraqMarketOiloil marketoil pricesOil productionOPECopec memberspricesRussiasaudi arabiastunstariffstradeTradingTrumpus governmentus politics
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