ZeroHedge News (RSS Feed) on Nostr: OIl Prices Plunge As OPEC+ 'Delegate' Hints At Output Hikes 'Due To Trump Pressure' ...
OIl Prices Plunge As OPEC+ 'Delegate' Hints At Output Hikes 'Due To Trump Pressure'
OIl Prices Plunge As OPEC+ 'Delegate' Hints At Output Hikes 'Due To Trump Pressure'
Bloomberg is reporting, according to a 'delegate' that OPEC+ will proceed with plans to revive halted oil production after repeated delays, amid pressure from President Donald Trump to lower oil prices.
The surprise move - which immediately sent crude prices reeling - means the group led by Saudi Arabia and Russia will go ahead with the increase of 138,000 barrels a day in April (again, according to the delegate).
Bloomberg notes that crude traders had widely expected that OPEC+ would once again delay the restart, which it had postponed three times since first announcing a supply roadmap last June.
Crude prices immediately plunged back below $70 (WTI) on the headline...
..taking out 2025 lows...
It wouldn't be the first time that a headline was run ahead of an OPEC+ meeting to run stops, and we wonder what's the over/under on the timing of an official OPEC+ denial.
https://cms.zerohedge.com/users/tyler-durden
Mon, 03/03/2025 - 13:22
https://www.zerohedge.com/energy/oil-prices-plunge-opec-delegate-hints-output-hikes-due-trump-pressure
OIl Prices Plunge As OPEC+ 'Delegate' Hints At Output Hikes 'Due To Trump Pressure'
Bloomberg is reporting, according to a 'delegate' that OPEC+ will proceed with plans to revive halted oil production after repeated delays, amid pressure from President Donald Trump to lower oil prices.
The surprise move - which immediately sent crude prices reeling - means the group led by Saudi Arabia and Russia will go ahead with the increase of 138,000 barrels a day in April (again, according to the delegate).
Bloomberg notes that crude traders had widely expected that OPEC+ would once again delay the restart, which it had postponed three times since first announcing a supply roadmap last June.
Crude prices immediately plunged back below $70 (WTI) on the headline...
..taking out 2025 lows...
It wouldn't be the first time that a headline was run ahead of an OPEC+ meeting to run stops, and we wonder what's the over/under on the timing of an official OPEC+ denial.
https://cms.zerohedge.com/users/tyler-durden
Mon, 03/03/2025 - 13:22
https://www.zerohedge.com/energy/oil-prices-plunge-opec-delegate-hints-output-hikes-due-trump-pressure