Oil prices have plunged more than 3% on Monday in the first Asian exchanges, after the announcement by OPEC+ of a faster than expected increase in June.
Around 3:00 am GMT, the barrel of American WTI gave up 3.8% to 56.08 dollars, while Brent de la Mer du Nord fell 3.5% to 59.17 dollars.
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On Saturday, eight members of the OPEC+ Alliance indicated that they would increase their production by 411,000 barrels per day in June, a level identical to that of May, while the initial plan provided for an increase limited to 137,000 barrels.
This announcement comes when crude prices are already undergoing high pressure, weighed down by fears of a global economic slowdown, against the backdrop of trade tensions powered by customs duties imposed by the United States.
With this new increase, the cumulative total of production increases in April, May and June will reach 960,000 barrels per day, or approximately 44% of the 2.2 million barrels of reductions decided since 2022.
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