16:22 - 21.04.2025

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April 21, Fineko/abc.az. US tariff policy continues to drive down oil prices, leading to broader economic consequences, ABC.AZ reports, referring to international rating agency Moody’s.

The pointed out that concerns over a potential trade war because of the US trade policy could reduce global economic growth and, consequently, demand for oil: «Additionally, OPEC-plus has decided to increase oil production, adding supply to the market. As a result, crude prices have fallen significantly in April, with Brent and WTI benchmarks around $65 and $62 per barrel, respectively, as of 16 April.»

Moody’s added that crude prices will likely remain low but volatile in 2025. Even if oil demand remains steady, the crude market is well supplied and is likely to experience inventory build-up in the second half of the year if OPEC and OPEC-plus maintain plans to unwind production cuts.»