WTI crude oil futures fell toward $66 per barrel on Friday, building on a more than 6% drop from the previous session, weighed down by continued pressure from the OPEC+ hike and global trade concerns. Eight key OPEC+ producers agreed to boost output by 411,000 barrels per day next month, well above the expected 140,000 and faster than planned. The group called the increase "equivalent to three monthly increments," noting it may pause or reverse hikes based on market conditions. This comes against a backdrop of broader market turmoil sparked by higher-than-expected US tariffs announced Wednesday, which prompted countermeasures from major economies. While energy imports remain unaffected, fears of a global trade war could slow economic growth and reduce fuel demand. For the week, oil is on track for a nearly 4% decline.( Newsmaker.id)

Source: Trading Economi