Markets were stunned when OPEC+ when chose not only to go ahead with its plans to raise oil production, but also to nearly triple the expected increase figure.

Oil prices swooned on Thursday to settle with their steepest percentage loss since 2022, after OPEC+ agreed to a surprise increase in output the day after U.S. President Donald Trump announced sweepin

Oil prices sunk 7% to a four-year low Friday, amid concerns economic fallout of President Donald Trump’s wide-reaching tariffs could put a drag on demand.

Saudi Arabia and other members of the OPEC Plus group accelerated their program to put more oil on the market, adding to a sharp fall in prices.

Stock indexes tumbled on Thursday, with the S&P 500 down more than 4%, while the U.S. dollar weakened and oil prices fell more than 6% as President Donald Trump’s drastic U.S. trade tariffs stoked fears of a global recession and led investors to seek safe-haven assets like bonds and the yen.

The combination of lower oil prices and higher costs for essential materials like steel pipe threatens to squeeze domestic oil and gas producers.

China escalated the global trade conflict on Friday by imposing an additional 34% tariff on U.S. goods, following President Donald Trump's sweeping tariffs earlier this week. Crude prices, already under pressure from Trump's tariffs and an anticipated increase in OPEC+ production in May,

Equities and oil prices extended a global rout for markets Friday after China hit back over President Donald Trump's tariff blitz with its own mammoth levy on US goods, inflaming

Crude oil futures plunge for a second day on Friday, sinking to the lowest in four years during the depths of the COVID-19 pandemic, after China announced a retaliatory tariff of 34% on U.S. imports in an escalating trade war a day after President Trump unveiled tariffs that could weaken global demand while OPEC+ delivered a surprise production