Oil Set for Weekly Drop as OPEC+ Weighs Another Big Supply Hike

Bloomberg · last updated May 22, 2025 – 9:34 PM

Oil headed for its first weekly decline in three, as OPEC+ weighed another bumper production increase that could add supplies into a market already expected to face a glut.

Brent fell toward $64 a barrel, declining for a fourth session and bringing its weekly loss to about 2%. West Texas Intermediate was below $61. OPEC and its allies discussed another major output-quota increase of 411,000 barrels a day for July, although no agreement has yet been made, delegates said.

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.