Brent Declines as Oil Tensions Escalate. Forecast as of 06.05.2025

Riyadh has grown weary of propping up the oil market and has opted to let Brent and WTI prices fall. This surprising shift could ultimately benefit OPEC+. Until recently, competitors had successfully sidelined the cartel, but the situation has now reversed.Major Takeaways The increase in OPEC+ production has roiled the market. Saudi Arabia can withstand low prices. American oil producers have taken a hit. Brent crude is currently trading at $58 and $54 per barrel.Weekly Fundamental Forecast for