Oil steady; market eyes OPEC+ output increase, US tariffs

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SINGAPORE: Oil prices steadied on Wednesday after hitting multi-month lows in the previous session, but remained under pressure as the market eyed plans by major producers to raise output in April as well as U.S.tariffs on Canada, Mexico and China.

The Trump administration also imposed 25% tariffs on all other Canadian imports.U.S.

The Trump administration also said on Tuesday it was ending a license that the U.S.has granted to U.S.oil producer Chevron since 2022 to operate in Venezuela and export its oil.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaCanadaChinaMexicoSingaporeUkraineVenezuela

Topics: /Business/Business News Brent WTI Energy Opec Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-05 @ 16:06:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 26676100

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 32 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #22

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