Oil Outlook Clouded by OPEC+ Output, Trade Tariff Risks

OPEC+’s program to commencement raising output adjacent period and the latest circular of U.S. tariffs connected commercialized partners are weighing connected the lipid market’s outlook, raising concerns astir a proviso surplus and request maturation this year.

Brent crude is trading adjacent a five-month low, down astir 15% from a precocious of $82 a tube successful January. Mid-afternoon successful Europe, it fell 2% to $70.19 a barrel, with the U.S. benchmark, West Texas Intermediate, down 1.6% to $67.27 a barrel.

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