Oil prices are climbing due to supply concerns as Iran rejects a U.S. nuclear deal proposal and wildfires in Canada disrupt production. Discover the factors driving these changes!
OPEC+ has announced a significant increase in oil production by 411,000 barrels per day for July, aiming to reclaim market share and address over-production among its members. This bold move has left analysts questioning the implications for crude prices and global supply.
Oil prices are in freefall after OPEC+ announced a significant output increase, raising concerns over a global surplus amid weakening demand due to ongoing trade tensions. Brent crude dropped nearly 4.6% as OPEC aims to target overproducing members.
In a bold move, President Trump announced a 25% tariff on countries purchasing oil from Venezuela, effective April 2. This decision comes amid accusations of Venezuela's ties to terrorism and has significant implications for global oil prices.
