The group agreed to raise output in June, a sign that Saudi Arabia and its allies appear to be weary of cutting output and may be trying to appease President Trump, who has pushed for lower prices.

On Monday, global crude prices sank after OPEC+ agreed over the weekend to surge production for a second month, adding to existing concerns about how tariffs may impact worldwide demand. Brent fell to $60 per barrel, while U.S. crude ( West Texas Intermediate) slid by 2% to settle around $57 per barrel.

Crude oil futures tumbled at the open Sunday after OPEC decided to boost output. WTI crde (CL1:COM) -3.8% and Brent (CO1:COM) -3.5% dropped more than 3%. Eight members of OPEC+ on Saturday announced a second straight monthly increase of 411K barrels of crude per day for June.