Oil prices fall on concerns about US tariffs, OPEC+ supply hikeGlobal oil prices fell more than 1.5% on Monday, April 21, as investors grew concerned about the impact of US trade policies on the global economy. This, analysts say, could slow growth in energy demand.Brent crude futures fell $1.10 (1.6%) to $66.86 a barrel by 02:55 GMT. US WTI fell $1.11 (1.7%) to $63.57 a barrel.The broader market trend remains bearish, according to IG analysts. Among the main factors are investor doubts about the stability of supply and demand forecasts, in particular against the background of the possible negative impact of tariffs on global economic growth, as well as the expected **increase in production by OPEC+ countries**.According to Reuters, the countries of the oil-producing alliance OPEC+ plan to increase production by 411 thousand barrels per day from May. Part of this increase may be offset by a reduction in volumes in countries that previously exceeded quotas.Additional pressure on the market was caused by news of **progress in nuclear negotiations between the United States and Iran**, which could lead to the easing of sanctions and an increase in Iranian oil exports.Oil prices rose by about 5% last week, but concerns about the economic consequences of the trade war between the United States and China and a decline in stock market indices in Asia have again increased uncertainty.According to a Reuters poll, the average probability of a recession in the United States over the next 12 months is estimated at almost 50%. Investors are awaiting the publication of key macroeconomic indicators this week, including PMI in manufacturing and services, which could provide insight into the future economic direction.
Source: https://enkorr.ua/uk/news/cni_na_naftu_vpali_na_15_cherez_ostrah_shchodo_popitu/263177
