Oil Market Monthly Report - April-2025
The global economic uncertainty led by the tariffs imposed by the US government and the reciprocal tariffs imposed by its trading partners, especially the EU countries and China, affected sentiments around crude oil demand sending prices to the lowest level since March-2021. The decline was exacerbated by the decision from OPEC+ countries to raise output by more than 0.4 mb/d starting from May-2024.