OPEC+
Trump intensified trade tariffs, raising worries about slowing economic growth and declining demand
The May hike is the next increment of the plan to gradually unwind the most recent output cut of 2.2 million bpd
OPEC+ now aims to return 411,000 barrels per day to the market in May, up from 135,000 bpd as initially planned
Traders raised oil's risk premium, anticipating supply disruptions from Trump's actions and policies
American Petroleum Institute data showed that U.S. crude inventories fell by 4.6 million barrels last week
OPEC+ ready to move forward with scheduled output increase in May
West Texas Intermediate (WTI) crude futures lost 0.3 percent to $67.67 per barrel
The U.S. dollar index gained 0.15 percent to 104.01 on Friday, making crude more expensive for foreign buyers
Investors are cautious ahead of the Fed meeting, expecting rates to remain unchanged
Expectations of lower Russian oil supply in the near term provided some support to oil prices
Crude prices rose from three-year lows, aided by improving sentiment and a weaker dollar
