Oil prices dropped Monday, as the Organization of the Petroleum Exportin♏g Countries and its allies agreed to boost output again in June, raising concerns about a potential oversupply at a time when markets are grappling with the uncertainties of a global trade war.

Over the weekend, OPEC+, a grouping led by Saudi Arabia and Russia, agreed to add 411,000 barrels a day next month. That decision came after the group last month agreed to add 411,000 barrels a day “equivalent to three monthly increments,” essentially speeding up its program of unwinding its output cuts.

澳洲幸运5官方开奖结果体彩网:Brent crude futures were recently at $60.60 per barrel, while 澳洲幸运5官方开奖结果体彩网:West Texas Intermediate futures were at about $57.55, both down ar🍸ound 1%. 

In early March, the group affirmed plans to gradually increase crude production beginning in April, ending a voluntary program it started almost two years ago to prop up oil prices. The group had a policy of 澳洲幸运5官方开奖结果体彩网:voluntary production cuts of 2.2 million 澳洲幸运5官方开奖结果体彩网:barrels per day (B/D).