Thursday, April 3, 2025

IRAQ NEWS HEADLINES: Oil prices dropped 6% on Thursday after OPEC+ accelerated its plan to increase oil output in May, 4 APRIL

 IRAQ NEWS

Oil prices dropped 6% on Thursday after OPEC+ accelerated its plan to increase oil output in May, compounding losses from US President Trump’s new tariffs, with Brent futures falling by $4.51 to $70.44.

In today’s OPEC+ ministers’ meeting, countries decided to raise output by 411,000 bpd in May, more than the originally planned 135,000. On Wednesday, ;

Trump unveiled a 10% minimum tariff on most goods imported to the US, the world’s largest oil consumer. 📸: Reuters/ file


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