The price of oil remains a crucial indicator for the global economy and financial markets. The cost of a barrel influences a wide range of sectors, from the automotive industry to energy, agriculture, and transportation.
OPEC+ to Establish Sustainable Production Capacity Framework
On Wednesday, May 28, 2025, the 22 member countries of the OPEC+ alliance mandated the OPEC Secretariat to develop a mechanism for assessing the maximum sustainable production capacity of participating countries. This framework will serve as a reference for setting production levels in 2027.
Slight Increase in Crude Oil Prices
A comparison of crude oil prices between June 4 and 5, 2025, reveals slight increases:
- The price of WTI crude rose from $62.62 to $63.23 per barrel.
- The price of Brent crude climbed from $64.77 to $65.24 per barrel.
It is also worth noting that the OPEC daily basket price stood at $63.78 per barrel on May 28, 2025.
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