OPEC+’s decision to increase crude production has led to a decline in oil prices. The group’s announcement confirmed that more oil would be pumped into the market, which reduced demand and put downward pressure on prices.
The move was seen as a response to rising energy costs and efforts to stabilize global markets. As a result, investors are monitoring the situation closely for further updates.
Source: https://www.ft.com/content/d10a6888-f917-46cf-834b-20f67a5c60c3