Oil - Overview as of 04.03.2025

Financial and commodity markets analytics


Oil prices continued to decline on Tuesday amid news that OPEC+ is set to implement a plan to increase production in April, while markets are are preparing for the imposition of U.S. tariffs on goods from Canada, Mexico and China. OPEC+'s decision to increase production by 138,000 bpd has raised concerns about a possible market glut. Price zone, below $68 a barrel represents a strong support range, which traders need to take into account while planning sell trades.