U.S. oil prices fell to $57 a barrel after the OPEC Plus cartel said this weekend that it would pump more oil.

OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed U.S. attempts to curb the flows and smaller drops in Iraq and Libya.

Crude oil futures tumbled at the open Sunday after OPEC decided to boost output. WTI crde (CL1:COM) -3.8% and Brent (CO1:COM) -3.5% dropped more than 3%. Eight members of OPEC+ on Saturday announced a second straight monthly increase of 411K barrels of crude per day for June.

The group agreed to raise output in June, a sign that Saudi Arabia and its allies appear to be weary of cutting output and may be trying to appease President Trump, who has pushed for lower prices.

For import-reliant Asia, the Opec+ output rise is a welcome development. Markets are still on edge over US-China trade uncertainty, however A surprise decision by Opec+ to accelerate production increases is fuelling hopes of cheaper oil across import-reliant Asia - but analysts warn the move could backfire,

On Monday, global crude prices sank after OPEC+ agreed over the weekend to surge production for a second month, adding to existing concerns about how tariffs may impact worldwide demand. Brent fell to $60 per barrel, while U.S. crude ( West Texas Intermediate) slid by 2% to settle around $57 per barrel.

OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group’s leader Saudi Arabia seeks

Oil prices shed 2% Monday to end at a fresh four-year low after OPEC and its market allies this weekend confirmed plans to boost output again in June despite slumping fuel prices. Benchm

The OPEC+ members currently participating in voluntary production cuts will meet this Saturday, May 3, instead of Monday, May 5

Until recently OPEC + was showing restraint. Strict quotas, cutting the group’s production by nearly 6m b/d, were introduced in an attempt to keep prices high. Then, in December, OPEC + confirmed its intention to undo some of the cuts by a modest 122,

U.S. crude oil futures climbed more than $1 a barrel on Tuesday as the White House announced Saudi Arabia's plans to invest $600 million in the United States. Brent crude futures rose 88 cents, or about 1.