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Stock impact report

OPEC+ to advance oil output hike to 411,000bpd in May [Yahoo! Finance]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
Company Research Source: Yahoo! Finance
This decision led to a drop in oil prices, with Brent crude falling more than 6% to below $70 per barrel, reported Reuters The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, had initially planned to increase output by 135,000bpd in May. However, after an online meeting, they opted for a larger increment, citing "continuing healthy market fundamentals and the positive market outlook". "This comprises the increment originally planned for May in addition to two monthly increments," OPEC stated. The organisation also noted that these gradual increases might be paused or reversed depending on market conditions. The decision aims to address concerns about potential disruptions to Iranian supply amid US pressure. The May output hike is part of a broader plan by Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia and the United Arab Emirates to unwind a recent output cut of 2.2 million barrels per day (mbbl/d). This cut was Show less Read more
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