Oil prices have shown a fall after the news of increasing production by OPEC+ countries and the introduction of new tariffs by the US Presidential Administration Donald Trump.
As of 10:30, the Brent Futures for Oil Futures decreased by 0.91%, to $ 70.71 per barrel, which became a minimum level since December 2024. American WTI fell by 1.08%, up to $ 67.63.
Analysts explain that the key factors of such a decline have been OPEC+ decision to increase production by 138 thousand barrels per day and new US tariffs. The US President has imposed 25% of imports from Canada and Mexico, as well as raised duties on Chinese goods from 10% to 20%.
Additional pressure on the oil markets is created by geopolitical risks, including a conflict between Russia and Ukraine.
In addition, the Trump administration has decided to suspend all military assistance to Ukraine after a busy conversation of the US President with Vladimir Zelensky.
Experts expect that the cumulative effect of OPEC+ and US tariff policy will affect world economic activity and can lead to a further decrease in oil demand.
