1354 ET - Oil futures are sliding into the weekend with the market awaiting a decision by OPEC+ on June's output levels. The fact the meeting was moved to Saturday from Monday spooked some people as in the past, rescheduling has come with "significant volatility either to the upside or downside," says CIBC Private Wealth US senior energy trader Rebecca Babin. The market is "somewhat ready" for another increase of 400,000 barrels a day, although that would still indicate a change in OPEC strategy and the risks are asymmetric, Babin says. "If it's worse than we think, the downside is a lot bigger than the upside is if it's less than we think." WTI is off 1.7% at $58.72 a barrel, and Brent is off 1.5% at $61.18 a barrel. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 13:54 ET (17:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.