1345 ET - The OPEC+ decision to speed up the unwinding of its output cuts by bringing back 411,000 barrels a day in May adds downside risk to crude prices, while the negative effect on global growth from U.S. tariffs could curb oil demand growth by 250,000 to 500,000 barrels a day, "close to half of our 2025 growth forecast of 1.1 million b/d at the upper end," analysts at UBS say in a note. "We see the combination of this leading to increased downside risk for crude oil prices towards the lower end of the $55-$75/barrel WTI range." WTI is off 7.2% at $66.58 a barrel and Brent is down 6.7% at $69.90 a barrel. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 13:45 ET (17:45 GMT)
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