Oil Prices Drop to Year-Low on OPEC Production Plans

Oil prices fell to their lowest level of the year after the OPEC cartel agreed to increase production, starting in April. The move could lead to more oil than global demand can handle, benefiting consumers but squeezing producers and governments reliant on oil exports.

Source: https://www.nytimes.com/2025/03/03/business/energy-environment/oil-prices-opec-production.html