Oil - Overview as of 02.06.2025

Financial and commodity markets analytics


OPEC+ decided to increase oil production by 411,000 bpd from July - the third month in a row - despite weak demand in Asia. However, actual exports are unstable. Total deliveries to Asia decreased by 650 thousand barrels compared to April. The market expected a greater increase in supplies.The demand level, in turn, remains under pressure due to economic uncertainty and the U.S. tariff policy.All factors together led to an increase in quotations, but the range of $63.40-64.80, about which we wrote earlier, still acts as a potential resistance zone, where the activity of sellers may increase again.