Oil Starts Summer on Borrowed Time as OPEC+ Fuels Surplus Threat

Bloomberg · last updated June 10, 2025 – 9:12 PM

The oil market is racing toward a reckoning as a Saudi-led output surge only adds to expectations of a market that will be in surplus later this year. The crucial question is when?

For months, the biggest news in the market has been OPEC+’s seismic decision to stop supporting oil prices — instead unleashing a flood of barrels. That’s happening just as President Donald Trump’s trade war threatens to sap demand.

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