Markets were stunned when OPEC when chose not only to go ahead with its plans to raise oil production, but also to nearly triple the expected increase figure.

Major oil producers announced a bigger-than-expected output boost for May, even as Trump’s tariffs tank crude prices.

DubaiOil markets witnessed a significant downturn as Brent crude, the global benchmark, tumbled over 13% in two days, settling just above $66 per barrel. This sharp decline follows the dual impact of OPEC+ unexpectedly increasing production and the imposition of new tariffs by President Donald Trump.