Friday, 12 September 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Drops as OPEC+ Moves to Boost Production
Tuesday, 4 March 2025 09:09 WIB | OIL |brent oilOil,

WTI crude oil futures fell toward $68 per barrel on Tuesday, hovering near a three-month low after OPEC+ signaled plans to revive halted production amid pressure from U.S. President Donald Trump to lower prices.

OPEC and its allies said it will proceed with unwinding 2.2 million barrels per day in output cuts starting April 1, following repeated delays. Crude prices also retreated amid concerns that U.S. tariffs could hurt global growth and reduce energy demand.

Trump confirmed on Monday that 25% tariffs on goods from Mexico and Canada will take effect later today, alongside a second round of 10% duties on Chinese goods.

Meanwhile, geopolitical tensions remain in focus as hopes for a resolution to the Russia-Ukraine war dimmed following a fiery meeting between Ukraine President Volodymyr Zelensky and President Trump last Friday.

Source: Trading Economics

RELATED NEWS
Oil Prices Rise as Ukrainian Drone Strikes Hit Key Russian Baltic Hubs...
Friday, 12 September 2025 19:23 WIB

Oil prices continued their rally amid growing concerns that Ukrainian drone attacks could disrupt oil flows through Russia's two most important crude export hubs on the Baltic coast. Brent crude rose...

Oil prices steady as oversupply expectations offset production risks...
Friday, 12 September 2025 16:07 WIB

Oil prices held steady on Friday (September 12th) as concerns about oversupply and weakening U.S. demand offset the risk of supply disruptions stemming from conflicts in the Middle East and Ukraine. ...

Oil Holds Drop as IEA Puts Glut Back in Focus After OPEC+ Hikes...
Friday, 12 September 2025 07:04 WIB

Oil held a decline after the International Energy Agency projected an even bigger surplus next year, with the bearish outlook offsetting concerns about geopolitical tensions from the Middle East ...

Oil prices slide 2% on oversupply, weaker US demand...
Friday, 12 September 2025 01:54 WIB

Oil prices slid about 2% on Thursday on concerns over softening U.S. demand and broad oversupply that offset threats to output from the conflict in the Middle East and the war in Ukraine. Brent crude...

Oil Prices Fall 1% On Oversupply And Weakening US Demand...
Thursday, 11 September 2025 20:03 WIB

Oil prices fell on Thursday (September 11), pressured by concerns over weakening US demand and a widespread oversupply, offsetting the threat to production from conflicts in the Middle East and Russia...

LATEST NEWS
Wall St opens muted after record highs, on track for weekly gains

Wall Street indexes opened subdued on Friday after notching record highs in the previous session, though they remained on track to log gains in a week of economic reports that solidified expectations for interest rate cuts. The Dow Jones...

Poland says Russian drone incursions could not have been a mistake, contradicting Trump

Poland rejected on Friday a suggestion by Donald Trump that Russian drone incursions into its airspace could have been a mistake, a rare contradiction of the U.S. president from one of Washington's closest European allies. Poland, backed by...

Michigan Consumer Sentiment Index Expected to Weaken Further in September

The University of Michigan (UoM) is expected to release the preliminary reading of its monthly Consumer Confidence Index for September on Friday. This survey captures US consumers' views on their personal finances, business conditions, and...

POPULAR NEWS
Fed seen on course for rate cuts after PPI data
Thursday, 11 September 2025 01:30 WIB

The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...

IMF says Fed has scope to lower interest rates
Friday, 12 September 2025 01:38 WIB

The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...

Breaking News: US Annual PPI Inflation Falls to 2.6% in August, Compared to an Expected 3.3%
Wednesday, 10 September 2025 19:39 WIB

Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...

US Nonfarm Payrolls benchmark revision points to 911,000 decrease in March 2025 level of employment
Tuesday, 9 September 2025 21:13 WIB

The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...