US EditionOil slides as Opec+ lifts production and tariffs fuel global growth fears
- Oil prices fell on Thursday due to a combination of factors, impacting global markets.
- President Trump's new tariffs and OPEC+'s decision to increase oil output drove price declines.
- OPEC+ decided to raise output by 411,000 barrels per day in May, exceeding earlier plans.
- Brent crude futures dropped to $69.62 a barrel, while WTI fell to $66.12 amid market anxiety.
- Concerns about tariffs slowing economic growth and increased oil supply suggest continued market volatility.
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Oil set for worst week in months over Trump's tariff blow
Oil prices were down nearly 2 per cent on Friday, and on track for the worst week in months over U.S. President Donald Trump's new tariffs, stoking concerns that a global trade war could hurt oil demand.Brent futures fell $1.28 to $68.86 a barrel by 0703 GMT, while U.S. West Texas Intermediate crude futures f
·Singapore
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Crude oil loses most since July 2022 as tariffs, OPEC output hike make 'perfect bearish cocktail'
Crude oil plunged by the most in nearly three years as concerns about weaker demand due to tariffs were exacerbated by the surprise move from OPEC+ to speed the return of withheld production
·United States
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Total News Sources39
Leaning Left3Leaning Right4Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 23%
C 46%
R 31%
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