Oil prices plunge over $2 as OPEC+ announces surprise output hike; Asian markets closed
Monday, 5 May 2025 () Oil prices plummeted after OPEC+ announced increased production, raising concerns about a potential supply glut amidst weakening global demand. This decision, viewed as a shift in strategy towards market share, coincided with fears of economic slowdown due to US tariffs. While Wall Street saw a strong week, analysts remain cautious due to ongoing trade uncertainties and economic challenges.
As global stock markets reel from a historic downturn—fueled by U.S. tariffs and heightened recession fears—Saudi Arabia stands out as an unexpected outlier. On Monday, the Tadawul All Share Index..
Oil prices have plunged to a four-year low, with Brent crude falling below $64 per barrel amid intensifying US-China trade tensions. The collapse follows Trump’s sweeping tariff move and China’s..
Hong Kong (AFP) May 5, 2025
Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water... Energy Daily
Monday, 5 May 2025 ()
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