Zollhammer and Opec+
Investors are concerned: oil prices suddenly give in strong
Updated on April 4th, 2025 – 4:12 p.m.Reading time: 2 min.
US trade policy and Opec+ drive oil prices depth. The market reacts nervous to customs packages and extended conveying quantities.
Oil prices reacted on Thursday with a significant decline in the comprehensive customs package of the US government and the increase in the funding volume of the Olverbund Opec+. A barrel (159 liters) of the North Sea variety Brent for delivery in June cost $ 69.89. That was $ 5.05 less than the day before. The price for a barrel of the US variety WTI for delivery in May fell by $ 5.24 to $ 66.47.
On the oil market, investors are concerned about the further development of the global economy, which could lose momentum according to the US government’s customs package-with the appropriate effects on oil demand. The announcement from the previous evening is the most aggressive and consequent step in the already rabid trade policy of US President Donald Trump. A trade war with the EU and other countries now seems inevitable.
In addition, a message from the organization of oil -based countries (Opec) caused further pressure on oil prices. The support states merged in the Oilverbund OPEC+ have started with the announced gradual expansion of the funding amount. According to this, the group, in which the leading oil states are also represented by Saudi Arabia and Russia, wants to increase production by an average of 411,000 barrels a day by the end of the coming month. This is the first step to implement a decision from the beginning of March.
The eight sponsoring countries organized in the Opec+ want to expire a restriction of the funding rate that has been in force since 2023. At that time, the countries of the oil network had cut their production of 2.2 million barrels a day to support oil prices. It was agreed to gradually increase the amount of funding from April again.
