Brent Crude Falls After OPEC+ Approves Major Output Hike
The decision marks the fifth straight month of output hikes, as key producers like Saudi Arabia and the UAE unwind earlier voluntary cuts. The move added pressure on global oil prices, already weighed down by weak demand signals from the U.S. and Asia.Analysts warn that the fast-paced supply return could lead to a potential oversupply later this year if global demand remains sluggish. Despite the dip, market volatility continues due to ongoing geopolitical risks and trade tensions.
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