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WTI Futures Price Slumps 2.1% Amid OPEC+ Production Increase Plans

Guavy AI Editorial Team Published July 25, 2026

Instruments

Oil

The price of WTI Futures (USOIL-F) has dropped by 2.10% on July 24, following a downward trend driven by various factors.

OPEC+ plans to increase production, which could lead to a global supply surplus by the end of the year, putting pressure on oil prices.

Weakening Asian manufacturing demand and high product inventories are also contributing to the decline in prices.

A strengthening US dollar reduces global demand for dollar-denominated crude oil, further exacerbating the situation.

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