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Brent is on track for a 2 percent weekly fall while WTI crude is set to decline 2.9 percent for the week
Markets remained nervous about aggressive U.S. tariffs and the ongoing trade war with China
Both benchmarks are on track for their first weekly rise in three weeks after recording their highest levels since April 3 on Wednesday
U.S. West Texas Intermediate crude fell by 16 cents, also down 0.3 percent, to $61.17
The IEA revised global oil demand up by 730,000 bpd, down from 1.03 million
Trump is considering changes to the 25 percent tariffs on foreign auto imports from various regions
Brent is set to fall 4 percent this week, while WTI is set to decline 3.8 percent
Following the tariff pause for most countries, oil prices settled 4 percent higher on Wednesday
OPEC+ postponed output increases until April and extended cuts unwinding to the end of 2026
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
