Sanctions, tariffs make OPEC+ hesitant on April oil hike, sources say
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OPEC+ is considering whether to proceed with an oil output increase in April or maintain current levels due to uncertainties from new U.S. sanctions on Venezuela, Iran, and Russia.
February 27, 2025 | 6:00 pm
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The United States Brent Oil Fund (BNO) may be impacted by OPEC+'s decision on oil output, influenced by new U.S. sanctions on key oil-producing countries.
BNO, which tracks Brent oil prices, could be affected by OPEC+'s decision on oil output. The uncertainty from U.S. sanctions on Venezuela, Iran, and Russia may lead to volatility in oil prices, impacting BNO's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80