Oil Prices Plunge As OPEC+ Accelerates Output Hike, Surplus Looms
May 5 2025, 13:18 Oil prices plunged more than $2 a barrel in Asian trade on Monday as OPEC+ prepared to further accelerate oil output increases, stoking concerns about more supply coming into a market clouded by an uncertain demand outlook. Brent crude futures fell $2.21, or 3.61%, to $59.08 a barrel by 0653 GMT…
