Despite falling prices, OPEC+ agrees another accelerated oil output hike for June
By X-blogger - on May 5, 2025
OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand.
The Oil-Dollar pair dropped 0.8% in the last session after rising as much as 2.3% during the session. The Ultimate Oscillator is giving a negative signal.
Support: 55.18 | Resistance: 61.39
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