1/5/2025, 11:57:03 am

Crude oil's worst month since 2021 as likely OPEC+ production hike

Crude oil had its worst month in nearly 3.5 years, with prices falling 16% in April amid Saudi Arabia hinting at increasing production and handling lower prices. OPEC+ nations are advancing output cuts, contributing to a drop below $60 per barrel. While this may ease inflation and reduce India's import bill, global economic uncertainties and potential oversupply could keep prices low.