{"id":114037,"date":"2025-04-25T09:45:02","date_gmt":"2025-04-25T05:45:02","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=114037"},"modified":"2025-04-25T09:45:05","modified_gmt":"2025-04-25T05:45:05","slug":"oil-prices-edge-higher-but-remain-set-for-weekly-decline-amid-opec-supply-fears-and-trade-uncertainty","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-edge-higher-but-remain-set-for-weekly-decline-amid-opec-supply-fears-and-trade-uncertainty\/04\/25\/market-updates\/","title":{"rendered":"Oil Prices Edge Higher But Remain Set for Weekly Decline Amid OPEC+ Supply Fears and Trade Uncertainty"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Oil prices saw a modest uptick in Asian trading on Friday, supported by renewed geopolitical tensions and tentative signs of progress in U.S.-China trade relations. However, both Brent and WTI benchmarks remain poised for weekly losses as concerns over rising OPEC+ supply and a fragile demand outlook continue to weigh on the market.<\/p>\n\n\n\n<p>As of 21:28 ET (01:28 GMT):<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent crude futures<\/strong> (June delivery) rose 0.3% to $66.77 per barrel<\/li>\n\n\n\n<li><strong>WTI crude futures<\/strong> gained 0.4% to $62.38 per barrel<\/li>\n<\/ul>\n\n\n\n<p>Despite Friday\u2019s gains, both contracts are on track for <strong>weekly losses of nearly 2%<\/strong>, extending their <strong>April declines to more than 10%<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">OPEC+ Production Concerns Pressure Sentiment<\/h3>\n\n\n\n<p>Market pressure has largely stemmed from reports that <strong>several OPEC+ members<\/strong> are advocating for an <strong>accelerated output increase in June<\/strong>, mirroring May\u2019s surprise hike of 411,000 barrels per day. This push is driven by internal disagreements over quota compliance, according to a <strong>Reuters<\/strong> report.<\/p>\n\n\n\n<p>The prospect of further supply increases comes at a time of already tepid demand growth and concerns about oversupply, raising the risk of pushing oil prices lower in the near term.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">U.S.-China Tariff Negotiation Hopes Offer Support<\/h3>\n\n\n\n<p>Providing some counterbalance was news that the <strong>Trump administration<\/strong> is mulling a <strong>partial rollback of tariffs<\/strong> on Chinese imports, according to the <em>Wall Street Journal<\/em>. President Trump recently indicated that a trade deal could lead to a &#8220;substantial&#8221; tariff reduction, although he emphasized that duties <strong>&#8220;won\u2019t be zero.&#8221;<\/strong><\/p>\n\n\n\n<p>Should a de-escalation occur, it may <strong>boost economic activity in China<\/strong>, the <strong>world\u2019s largest crude importer<\/strong>, supporting oil demand expectations over the medium term.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Ukraine Conflict Reignites Supply Risk Premium<\/h3>\n\n\n\n<p>Geopolitical risk also returned to the forefront after <strong>Russia launched its deadliest missile and drone barrage on Kyiv in nearly a year<\/strong>, escalating the war in Ukraine. The move prompted a sharp rebuke from <strong>U.S. President Donald Trump<\/strong>, who called on <strong>Russian President Vladimir Putin<\/strong> to &#8220;stop&#8221; the aggression, warning the assault jeopardized fragile ceasefire talks.<\/p>\n\n\n\n<p>Given <strong>Russia\u2019s status as a major oil exporter<\/strong>, any escalation in the Ukraine conflict tends to <strong>raise concerns about supply disruptions<\/strong>, offering short-term price support.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Outlook:<\/strong> While oil is recovering slightly heading into the weekend, the market remains under pressure from structural oversupply risks and lingering demand uncertainty. Upcoming decisions from OPEC+, as well as clarity on U.S.-China trade dynamics and the Ukraine conflict, will be key factors in determining price direction into May.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices saw a modest uptick in Asian trading on Friday, supported by renewed geopolitical tensions and tentative signs of progress in U.S.-China trade relations. However, both Brent and WTI benchmarks remain poised for weekly losses as concerns over rising OPEC+ supply and a fragile demand outlook continue to weigh on the market. As of &hellip;<\/p>\n","protected":false},"author":9,"featured_media":105619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[],"class_list":["post-114037","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=114037"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114037\/revisions"}],"predecessor-version":[{"id":114038,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114037\/revisions\/114038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/105619"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=114037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}