Oil prices flat as US-China trade war weighs on global growth outlook
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Oil prices remained flat amid escalating US-China trade tensions, with concerns about global economic growth and potential fuel demand reduction. US energy firms have already started cutting oil rigs, reflecting market uncertainty. Geopolitical factors like potential Iran oil export restrictions add complexity to the market.
April 14, 2025 | 1:15 am
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Baker Hughes reported cutting oil rigs by the most in a week since June 2023, indicating industry response to potential demand decline and market volatility.
Consecutive rig count reductions suggest Baker Hughes anticipates challenging market conditions due to US-China trade tensions and potential economic slowdown.
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