OPEC+ drops the prices of black gold

black gold plunged on Monday under 60 dollars per barrel of Brent. He had done as much, very briefly, on April 9. The fall was then due to climbing in the trade war orchestrated by Donald Trump against all the partners of the United States, in the first place China.

This new decline is linked to OPEC+announcements. The cartel of the oil producing countries led by Saudi Arabia said that it was going to open its valves more widely than expected in June, despite the overabundance of the offer. Riyadh has, in fact, put pressure to increase, for the second consecutive month, the production of the cartel of 411,000 additional barrels per day, an increase three times greater than what was expected.

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Overabundance of the increased offer

OPEC+ indicated that it put more barrels back on the market ” because the fundamentals are healthy and the stocks weak », Notes Ipek Ozkardeskaya, analyst of the Swiss bank Swissquote. However, underlines the expert, ” Global growth forecasts collapsed …