The future of crude has been reduced for at least several years after the increase in production has been announced by the Oil Exports Organization (OPECE) And on Thursday its allies, which worsened Fall in energy markets Caused by Trump’s fees. This setback destroyed all the profits promoted by geopolitical risks from the US attack.
The future of Brent’s barrel fell 6.42% to $ 70.14, while West Texas Intermediate (WTI) fell 6.64% to a barrel on Thursday. Two reference prices They expanded the losses During Friday Asian session, Its lowest level has been approaching since December 2021.
Obek’s decision after US President Donald Trump announced ‘Release Day’ With mutual fees that rocked the financial markets. Investors feared that these measures could provoke the entire global business war, leaving the world economy towards a recession. The raw materials sensitive to the growth of copper and raw, such as copper and raw, were already under pressure, and the oil prices fell 4% after the announcement. The results of eight OPEC members increased to increase production, increasing the weakness of the crude oil prices. It should be noted that the White House confirmed that oil, gas and refined products were exempted from new fees.
Increase the OPEC production
Including eight prominent members of the OPEC group, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, In May, they agreed to increase their joint oil production by 411,000 barrels a day, thus accelerating the withdrawal of production cuts. “In addition to the increase in the early May, this includes an additional two monthly increase,” the official OPEC website said.
This increase is more than 140,000 barrels of daily estimated by the market for next month. In April, Cartel Oil Manufacturers It is already planning to increase the production of 135,000 barrels after several months of the flexibility of 2.2 million barrels per day in the flexibility of its voluntary oil production cuts. Market participants expected to maintain similar increase in production in May.
“There may be a gradual increase Pause or invest Depending on the evolution of market conditions. This flexibility group will allow the group to support the stability of the oil market, “the organization added. The eight OPEC+ countries pointed out that the move would provide the opportunity to accelerate their compensation for the participating countries. “Some members have to cut their products to compensate for excessive production depending on their production purposes, which are 4.2 million barrels a day. Kazakhstan, United Arab Emirates, Nigeria and Carbon In recent months, they have been pointed out as countries violating their production purposes. Eight Cartel members will meet on May 5 to determine June production conditions.
Geological political tensions are a positive factor
However, Trump’s fee threats The main Opeg+ membersIncluded Russia, Iran and VenezuelaThey can reduce their products, which will offset the planned production increase.
Trump imposed 25% of the fees for the importation of Venezuela oil that will come into effect this week. Last week, he threatened to impose fees from 25% to 50% of Russian oil buyers, and warned that “bombings” and “secondary fees” for Iran. This “secondary charges” mark A new form of approval By the import tax, it may be China and India – Buyers of these countries- significantly vulnerable.
Reduction of potential export Venezuela oil Iranian may be important to world distribution. According to the US Energy Information Administration (EIA), Iran’s oil production has been increasing since 2022, which has now reached 1.5 million barrels a day, equivalent to 1.4% of world production. According to Obek’s secondary sources, Venezuela production reached 900,000 barrels a day in the first quarter of 2025, and exports to the United States reached 250,000 barrels a day in January. Reuters reported that Venezuela oil and fuel exports declined by 11.5% in March compared to February, which is often due to the latest US sanctions.
