Oil prices tumbled on Monday as OPEC+ revealed intentions to boost production in the coming months, triggering fears of a potential oversupply. This news heavily impacted crude prices, already suffering declines in 2025.

OPEC+ Production Increase Announced

Brent oil futures for June fell 3.6%, settling at $59.10 per barrel, while West Texas Intermediate (WTI) crude futures dropped 3.7% to $55.68 per barrel by 20:37 ET (00:37 GMT). This significant decline followed OPEC+’s decision to raise output by 411,000 barrels per day starting in June.

This increase, nearly three times the amount initially anticipated, indicates key producers such as Saudi Arabia and Russia are prepared to expand output significantly. This could cause global oil supplies to rise, potentially neutralizing concerns regarding disruptions in the Middle East while putting additional downward pressure on crude prices.

OPEC+’s Alignment with Trump’s Production Requests

The OPEC+ decision also reflects its alignment with U.S. President Donald Trump’s calls for increased oil production to maintain affordable prices in global markets. Trump’s repeated requests for the cartel to raise output may contribute to reduced prices, especially if demand doesn’t keep pace with this increased supply.

Middle East Tensions and Oil Price Impact

Even with ongoing tensions in the Middle East, particularly between Israel and Iran, the impending OPEC+ production increase appears to overshadow market support typically derived from geopolitical tensions. Despite Israeli Prime Minister Benjamin Netanyahu’s warnings about Iran, anticipated oil surpluses have become a primary market concern.

For investors watching global oil supply trends and geopolitical effects on prices, the Commodities API provides real-time information on oil prices and market conditions.