The pumping sockets are observed in the oil fields along motorway 33, known as Petroleum Highway, west of Buttonwillow, Kern County, California, April 9, 2025.
Frederic J. Brown | AFP | Getty images
The American crude oil prices remained stable on Monday after the OPEC reduced its demand for demand for demand this year on the prices of President Donald Trump.
We gross Oil increased by 3 cents to close a barrel at $ 61.53, while Global Benchmark Brent won 12 cents to settle at $ 64.88 per barrel.
OPEC now sees gross growth demand of 1.3 million barrels per day this year and next year, down around 150,000 barrels per day from its previous estimates, according to the monthly cartel report.
Oil prices have increased almost 2% earlier in the Trump's decision to exempt key technological products such as smartphones from its prices on China. The president slapped 145% of prices on China, while taking a break on higher tasks for most other countries for the next 90 days to allow negotiations.
Prices have found some support after the Secretary of the United States of Energy, Chris Wright, said Trump on Friday could stop Iran’s oil exports if an agreement had not been concluded on the Islamic Republic nuclear program. The United States and Iran had talks in Oman on Saturday and will meet again on April 19.
The American crude is down more than 14% and Brent has dropped by more than 13% since April 2, when Trump announced his pricing plans. Prices are also under pressure from the OPEC + decision to speed up production from May.
“It is a double blow for the oil market at the moment,” said Helima Croft, a global manager of goods on RBC on Monday, “The Exchange” of CNBC.
Goldman Sachs sees West Texas Intermediate and Brent with an average of $ 59 and $ 63 a barrel, respectively, in the rest of the year, according to a note published on Sunday.
