Eight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices. The group was widely expected to implement an increase of just under 140,000 barrels per day next month.
Crude oil tumbles over 3% as Trump's tariffs spark demand fears and inventories rise, pressuring oil outlook and triggering a bearish turn in futures.
A meeting of eight top ministers of OPEC+ will likely keep oil output policy that calls for gradual oil output hikes from April unchanged, two OPEC+ sources said on Thursday.
Oil prices fell after US President Donald Trump rolled out tariffs on major trading partners, including China and the European Union. Oil, natural gas and energy products are among exempted goods, the White House said, sparing the direct impact on fuel markets.
Imports of oil, gas and refined products were exempted from U.S. President Donald Trump's sweeping new tariffs, the White House said on Wednesday.
Former Trump Energy Secretary Dan Brouillette analyzes President Donald Trump's plan to impose a 'secondary tariff' on Venezuelan oil on 'Varney & Co.' #foxbusiness #varney
The oil market continues to see a lot of overhead resistance at the moment, but I still think this is a situation where we are still buyers of dips going forward.
Rising U.S. trade tensions and looming OPEC+ talks drive volatility in oil and gas markets, with WTI holding near $71 and Natural Gas near $3.95.
Oil prices steadied on Wednesday after falling in the previous session on concerns new U.S. tariffs set to be unveiled later in the day may deepen a global trade war that could limit crude demand.
Oil futures edge lower in the early Asian session as traders brace for President Trump's so-called “Liberation Day” tariff announcement due later today.
Oil (CL=F, BZ=F) prices are expected to dip to the low $60-per-barrel range, similar to levels seen in 2021, as oversupply continues to plague the market. Macquarie Group global energy strategist Vikas Dwivedi joins Asking for Trend host Josh Lipton to discuss how geopolitical events, tariffs, and sanctions are shaping the oil market.
Asking for a Trend anchor, Josh Lipton breaks down the market trends for April 1, 2025. Oil prices dip as tariff concerns and geopolitical pressures weigh on oil markets.