Oil Prices Fall To Four-Year Lows As US Mulls Tariff Cuts On Chinese Imports

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Oil prices plunged on Wednesday, hitting four-year lows despite growing optimism that the US could ease tariffs on Chinese imports, a move that could reshape global trade flows and energy demand.As at 1.46 pm New York time, Brent crude was down 2.73% to US$65.60 a barrel, while West Texas Intermediate (WTI) crude slipped 2.

Reuters also reported that the cartel may accelerate output increases in June, following stronger-than-expected hikes in May amid compliance tensions.

Adding further pressure, eight OPEC+ nations began unwinding their voluntary production cuts on April 1.

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Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Oil prices News Global

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Article Type: News Report

Published On: 2025-04-23 @ 23:53:14 (14 hours ago)

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Language: English

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