oil prices They started the week with a new fall, after the OPEC+ announced that it will increase its production by 411,000 barrels per day as of June 1.
The market published The New York Times, reacted with concern in the midst of fears about a possible weakening of global demand due to the commercial war promoted by President Donald Trump.
The price of American crude Up to 56 dollars per barrel, after closing Friday in 58. Although this Monday recovered slightly, the trend is still down.
For its part, the Brent – European Referential – closed last week at $ 61.29, 15% less than at the beginning of April.
The increase in the offer was approved on Saturday during a virtual meeting between eight OPEC+ member countries (Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman), which had already raised their pumping in previous months.
OPEC+ wants to press countries like Kazakhstan and Iraq
The new measure breaks with the gradual strategy planned for the next 18 months and anticipates half of that increase in just three months.
With this, OPEC+ expects to send a pressure signal to countries such as Kazakhstan and Iraq, They have overcome their quotas without consequences. At the same time, some analysts interpret this decision as a concession to Trump’s demands, who has demanded greater production to reduce energy prices in the United States.
However, he said The New York Times, The price drop begins to impact the profitability of the energy sector. Companies such as Exxonmobil and Chevron reported their worst quarterly results in years, and the activity in the Permica basin – the American oil area – has been reduced 9% compared to last year, when the barrel exceeded $ 80.
Darren Woods, executive director of Exxon, declared: «Economic uncertainty It is affecting global growth projections, And that is directly reflected in the energy market ».
-OPEC+ oil ministers will meet again on June 1 to decide if they maintain this trend for July, in a context of commercial tensions and increasing volatility in international markets.
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