Oil dips 2% on possible OPEC+ output boost - Breaking The News
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Oil dips 2% on possible OPEC+ output boost

Markets
Christian Baha / RR

1 min read

EPA-EFE/ETIENNE LAURENT

Oil prices reversed earlier gains on Wednesday and dropped more than 2% following indications that multiple OPEC+ participants will propose that the alliance speeds up production increases for a second straight month during their upcoming May 5th meeting.

West Texas Intermediate (WTI) for June delivery declined by 2.81%, trading at $61.85 per barrel at 10:15 am ET, while Brent crude for the same month's deliveries fell 2.71%, at $65.52 per barrel.

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