Oil Drops for Second Day as Traders Brace for Another OPEC+ Hike

Bloomberg · last updated July 4, 2025 – 11:47 AM

Oil fell for a second day in the lead up to an OPEC+ meeting that’s expected to deliver another substantial production hike, while President Donald Trump’s latest tariff threats dented wider risk appetite.

West Texas Intermediate slid below $67 a barrel, extending its 0.7% drop on Thursday. The cartel has begun discussing a fourth, 411,000 barrel-a-day increase for August ahead of a video-conference this weekend, delegates said. The meeting has now been moved from Sunday to Saturday.

here today, more tomorrow

We’ve launched briefing.center with a focus on the press and media.

And we’ve added Citizen Cartwright, a daily quick-read news summary by veteran Washington journalist Linda Cartwright. We’ve also created a new voting rights knowledge center for Citizen Cartwright subscribers. (You can sign up for a dedicated morning email at citizencartwright.com.)

You can sign up here for full access to press and media and Citizen Cartwright on briefing.center.

You can use briefing.center as the center of your information management, or just one of your tools. We’re happy to discuss your information needs.