1354 ET - Oil futures are sliding into the weekend with the market awaiting a decision by OPEC+ on June's output levels. The fact the meeting was moved to Saturday from Monday spooked some people as in the past, rescheduling has come with "significant volatility either to the upside or downside," says CIBC Private Wealth US senior energy trader Rebecca Babin. The market is "somewhat ready" for another increase of 400,000 barrels a day, although that would still indicate a change in OPEC strategy and the risks are asymmetric, Babin says. "If it's worse than we think, the downside is a lot bigger than the upside is if it's less than we think." WTI is off 1.7% at $58.72 a barrel, and Brent is off 1.5% at $61.18 a barrel. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

May 02, 2025 13:54 ET (17:54 GMT)

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