According to The Kobeissi Letter, oil prices opened nearly 4% lower following news that OPEC is preparing to increase production again. This sharp drop in crude oil futures presents significant volatility and potential short-term trading opportunities, as market participants react to anticipated supply increases and possible downward pressure on energy sector assets (source: The Kobeissi Letter, May 4, 2025). Traders should closely monitor OPEC announcements and real-time price movements for potential entry and exit strategies.