Crude oil fell sharply on Wednesday as concerns of excess supply surfaced due to both reported plans by the OPEC+ alliance hiking output larger than before in November as well as Iraqi oil exports from the Kurdistan region to Turkey that commenced last Saturday.WTI Crude Oil for November delivery was last seen trading down by $0.60 (or 0.96%) at $61.77 per barrel.The OPEC+ alliance is reportedly p...
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.