Oil Prices Surge as Market Shrugs Off OPEC Quota Shock

Oil prices staged a robust comeback on Tuesday, clawing back ground lost after OPEC’s surprise weekend announcement to boost production quotas by more than expected. WTI surged more than 4% on the day, trading above $59, while Brent gained 3.7%, reaching well above $62. The bounce comes after a bruising April that saw prices crater under the weight of U.S. tariffs and OPEC+ confusion. OPEC’s weekend move to raise quotas—reportedly by triple what most expected—initially sent prices tumbling. But the fine print matters. Chronic…