Oil prices fell on Wednesday as bullish output forecasts by two big U.S. producers and a build in weekly U.S. crude stockpiles overshadowed OPEC-led efforts to cut output.
Global benchmark Brent crude dropped 0.6 percent to $65.47 per barrel while U.S. West Texas Intermediate (WTI) crude oil futures were down 1.2 percent at $55.88 per barrel.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.