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Tariff Tracker, May 5: A US-China thaw, the declining dollar, and a Saudi oil gambit

May 06, 2025 2:09 pm

Trump tariffs 2025 update: The dollar’s decline continued over the weekend, as several Asian banks resorted to offloading their USD reserves amid the appreciation of their domestic currencies. On the other hand, OPEC+, led by Saudi Arabia, announced a bid to further expand oil supply.

Trade war, Saudi quest to protect market share have oil prices spiralling; India not complaining

April 14, 2025 5:36 am

Oil prices hit their lowest in over four years with the benchmark Brent crude briefly even slipping below $60 per barrel earlier this week

OPEC+ unlikely to recommend oil output policy changes: Report

April 02, 2024 6:05 pm

Oil has rallied this year, underpinned by tighter supply and attacks on Russian energy infrastructure and war in the Middle East. Brent crude reached $89 a barrel on Tuesday, up from $77 at the end of 2023.

OPEC says IEA commentary on oil security encouraging

March 13, 2024 4:19 pm

"While the world's dependence on oil is lessening, it remains deep-rooted, so supply disruptions can still cause significant economic harm and have a substantial negative impact on people's lives," the IEA said in a commentary written by energy security analyst Ronan Graham and researcher Ilias Atigui released on Monday.

OPEC expects share of Indian oil imports to rise again

March 06, 2024 7:51 pm

India, the world's third-biggest oil importer and consumer, is forecast by the International Energy Agency to be the world's biggest oil demand growth driver through 2030.

OPEC+ production cuts deepen with extensions from Saudi Arabia, Russia

March 04, 2024 9:46 am

Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organisation noted.

OPEC+ members extend oil output cuts to second quarter

March 03, 2024 11:06 pm

Oil prices have found support from rising geopolitical tensions due to attacks by the Iran-aligned Houthi group on Red Sea shipping, although concern about economic growth and high interest rates has weighed. Brent futures for May settled $1.64 higher, or 2%, at $83.55 a barrel on Friday.