By — Associated Press Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/oil-prices-tumble-after-opec-says-it-will-step-up-production Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Oil prices tumble after OPEC+ says it will step up production Economy May 5, 2025 10:16 AM EDT Stocks are opening lower on Wall Street and crude prices are falling to a four-year low after the OPEC+ group of oil-producing nations said it plans to increase output. The S&P 500 slid 0.7 percent early Monday. The benchmark index is coming off its ninth straight gain. The Dow Jones Industrial Average fell 175 points, or 0.4 percent. The Nasdaq composite gave back 0.7 percent. U.S. benchmark crude fell to $57 a barrel. Berkshire Hathaway slumped 5 percent after legendary investor Warren Buffett announced over the weekend that he would step down as CEO by the end of the year after six decades at the helm. This story is developing and will be updated. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now By — Associated Press Associated Press
Stocks are opening lower on Wall Street and crude prices are falling to a four-year low after the OPEC+ group of oil-producing nations said it plans to increase output. The S&P 500 slid 0.7 percent early Monday. The benchmark index is coming off its ninth straight gain. The Dow Jones Industrial Average fell 175 points, or 0.4 percent. The Nasdaq composite gave back 0.7 percent. U.S. benchmark crude fell to $57 a barrel. Berkshire Hathaway slumped 5 percent after legendary investor Warren Buffett announced over the weekend that he would step down as CEO by the end of the year after six decades at the helm. This story is developing and will be updated. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now