From Financial Modeling Prep: 2025-05-05 02:48:00

Crude prices dropped over $2 a barrel in Asia due to OPEC+ increasing production and uncertain demand.

OPEC+ increased production by 411,000 bpd in June, totaling 960,000 bpd over three months, leading to a contango in the Brent spread.

Demand is uncertain due to tariff risks and economic indicators, with Barclays lowering their 2025 Brent outlook by $4 to $66/barrel.

OPEC+ unwinding cuts by October could lead to a global supply surplus, with ING predicting an average of $65/barrel for Brent in 2025.

Traders can use FMP’s real-time data to track commodity price movements and economic releases for informed decision-making.

Policy decisions are affecting demand signals, with OPEC+ output hikes leading to excess supply and traders needing to adjust their strategies for this volatile market.



Read more at Financial Modeling Prep:: Oil Prices Slide as OPEC+ Accelerates Output Hikes