American oil prices stumbled after OPEC+ agreed to increase production in June

US crude oil futures fell by more than 4 % on Sunday, after OPEC+ agreed to increase production for the second month.

Raw USA 2.49 dollars, or 4.27 %, decreased to $ 55.80 a barrel after a short period of inauguration. The global standard Brent He decreased $ 2.39, or 3.9 %, to $ 58.90 a barrel. Oil prices fell more than 20 % this year.

The eight producers in the group, led by the Kingdom of Saudi Arabia, approved on Saturday to Output By 411,000 other barrels per day in June. The decision comes a month after OPEC+ surprised the market with approval Production in May With the same amount.

June production is three times more than 140,000 barrels per day, originally expected by Goldman Sachs. OPEC+ brings more than 800,000 points a day from the additional supply of the market over two months.

Oil prices recorded in April the largest monthly loss since 2021, as an American president Donald Trump Customs duties raised fears of the recession that will slow down the demand at the same time that OPEC+ rapidly increases.

Oil field services companies such as Baker Hughes and SLB They expect to invest in exploration and production This year retreated Because of the weak price environment.

“The possibilities of excessive oil market in appointment, high customs tariffs, uncertainty in Mexico and weak activity in the Kingdom of Saudi Arabia are combined in the source of international spending,” said Baker Hughes, CEO of Baker Hughes.

Oil majors Chevron and Exxon The profits of the first quarter were reported last week, which decreased compared to the same period in 2024 due to low oil prices.

Goldman predicts that the prices of the United States and the Brent are an average of $ 59 and $ 63 a barrel, respectively, this year.