Behind the sharp drop in international oil prices

As one of the most important commodities and economic indicators in the world, the fluctuations in oil prices are affecting all parties. With the United States' "equal tariffs" policy causing concerns about a global economic recession, and the "OPEC+" breaking the years of "production cuts to support prices" tradition by announcing a large-scale increase in production in May, international oil prices have experienced a sharp decline since April, with WTI prices falling below $60 per barrel at one point. Several experts have expressed that considering the intensifying global competition and the continued disruption of the market due to trade negotiations, international oil prices may fluctuate widely this year. It is particularly important to be cautious of the future direction of the "equal tariffs" policy, potential conflicts in the Strait of Hormuz, and extreme fluctuations due to internal compensation for production cuts within "OPEC+".