Saturday, 13 September 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil falls as market eyes OPEC+ output increase, US tariffs
Wednesday, 5 March 2025 13:12 WIB | OIL |brent oilOil,

Oil prices fell for a third session on Wednesday as plans by major producers to raise output in April combined with concerns that U.S. tariffs on Canada, Mexico and China will slow economic growth and hit fuel demand.

Brent futures fell 24 cents, or 0.3%, to $70.80 a barrel at 0500 GMT. U.S. West Texas Intermediate (WTI) crude slipped 58 cents, or 0.9%, to $67.68 a barrel.

In the previous session, the contracts settled at close to multi-month lows.

"Unfavourable supply-demand dynamics have created a double whammy, with tariff uncertainties posing downside risks to global growth, and in turn, oil demand," said Yeap Jun Rong, market strategist at IG.

"OPEC+ remains on track to increase production in April, while optimism over a potential resolution to the Ukraine-Russia conflict raises the prospects of Russian supplies returning to the market," Yeap added.

The Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+, decided on Monday to increase output for the first time since 2022.

The group will make a small increase of 138,000 barrels per day from April, the first step in planned monthly increases to unwind its nearly 6 million bpd of cuts, equal to nearly 6% of global demand.

A 25% tariff on all imports from Mexico, a 10% tariff on Canadian energy and a doubling of duties on Chinese goods to 20% came into effect on Tuesday. The Trump administration also imposed 25% tariffs on all other Canadian imports.
Source: Investing.com

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
Fed hawks and doves: what US central bankers are saying

The Federal Reserve is expected to deliver its first interest-rate cut this year at its September 16-17 meeting, as it moves to counter a cooling labor market even as inflation remains above target. The anticipated quarter-point reduction may not...

US dollar rises on positioning moves, but outlook remains bearish

The U.S. dollar rose on Friday, a day after falling on a surge in U.S. jobless claims and modest inflation, as investors expected the Federal Reserve to cut interest rates next week after a roughly nine-month hiatus. The greenback rose 0.3% to...

European equities end flat; Vestas sheds 2.6% as U.S. snubs offshore wind

European stocks closed flat on Friday, after data showed the U.K. economic growth stalled in July. The pan-European Stoxx 600 was flat at 0.09% with no broad consensus movement among sectors and major bourses.Data released on Friday morning showed...

POPULAR NEWS
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,...

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...

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...

Breaking News: US CPI Inflation Rises to 2.9% in August, Matching Forecasts
Thursday, 11 September 2025 19:44 WIB

Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...