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Brent crude oil prices fall more than 3%, reaching a level not seen since 2021

Crude Oil

Brent crude prices have experienced a decline of over 3%, reaching their lowest point since 2021. Oil prices approached their lowest closing levels since the height of the coronavirus pandemic in 2021 on Friday, impacted by U.S. President Donald Trump’s announcement of new tariffs and increased output from the OPEC+ producer group. Brent futures experienced a significant Read More

Oil declines as OPEC+ unexpectedly accelerates output hikes

Crude Oil

On Thursday, eight OPEC+ nations reached an unexpected consensus to expedite their strategy for phasing out oil production cuts, opting to raise output by 411,000 barrels per day in May. This decision led to a continuation of the significant declines in oil prices observed earlier. Oil prices, having already decreased by more than 4% following Read More

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