OPEC+

Oil prices declined amid U.S. tariff threats, despite strong gasoline demand in the U.S. and signs of stable global consumption.

OPEC+ plans to increase oil production, which may cause Brent prices to fall below $60 per barrel, according to Bloomberg estimates.

OPEC+, led by Saudi Arabia, has decided to increase oil production amid the Israel-Iran conflict, raising global concerns and sparking speculation about its motives.

Saudi Arabia launches a long-term oil price war aiming to reclaim lost market positions among global producers by shifting focus from prices to production volumes.

Global oil prices rose after OPEC+ announced a gradual easing of production restrictions, influencing investor sentiment.