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Oil drops as OPEC+ output hike looms - Danske Bank
Breaking news
Oil drops as OPEC+ output hike looms - Danske Bank
New
2025.04.24 18:27
2025.04.24 18:27
2025.04.24 18:27
Oil prices declined after reports emerged that OPEC+ is considering a major output increase in June, while Kazakhstan resists further production cuts to compensate for earlier overproduction. The internal discord threatens to undermine price stability, especially amid global economic uncertainty, Danske Bank's FX analysts report.
OPEC+ is mulling an additional big output hike in June
"The internal rift in OPEC+ continues to develop and yesterday oil prices fell on the news that the cartel is mulling an additional big output hike in June and further that Kazakhstan is not eager to cut output to make up for previous overproduction."
"As we have noted before, the changed internal dynamics in OPEC+ has removed the floor for oil prices. Should we see a renewed escalation of trade tensions or a deterioration of the global growth outlook for some other reason, oil prices could suffer a steep drop."
Last updated
: 2025.04.24
Related articles
Oil drops as OPEC+ output hike looms - Danske Bank
2025.04.24 18:26Energy: OPEC+ struggles - ING
2025.04.24 17:39Crude Oil price today: WTI price bearish at European opening
2025.04.24 15:12WTI remains above $62.00, downside risks persist due to potential increase in OPEC+ supply
2025.04.24 12:43Compensatory cuts are likely to limit OPEC+ production expansion - Commerzbank
2025.04.23 19:52Oil price recovers significantly - Commerzbank
2025.04.23 19:47
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