# Oil dives more than 6%, steepest fall in 3 years on tariffs, OPEC+ supply boost | Reuters

> Brent futures settled at $70.14 a barrel, down about 6.4%, on tariff worries and OPEC+ agreeing to accelerate output hikes. The group now aims to return 411,000 barrels per day to the market in May instead of 135,000 bpd.

- Date: 2025-04-03 · published 2025-04-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6316-oil-dives-more-than-6-steepest-fall-in-3-years-on-tariffs-opec-supply-boost
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Faster OPEC+ supply additions combined with tariff-driven demand fears add downward pressure on crude, which weighs on energy-linked feed inputs and biofuel margins.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2025-04-03 | 1 | -6.1% | -4.3 | Directly describes the April 3 Brent settlement drop of about 6.4% driven by tariff worries and OPEC+ accelerating May output hikes (supply increase plus demand fear). |
| BRENT | 2025-04-07 | 5 | -15.6% | -5.6 | Brent fell over 6% on April 3 on tariff worries and OPEC+ tripling its May output hike, a combined demand and supply shock that began the 5-day slide. |
| BRENT | 2025-04-08 | 5 | -16.6% | -5.2 | On Apr 3 Brent fell about 6.4% on tariff demand fears and the OPEC+ decision to accelerate May output hikes, a supply and demand shock that began the 5-day slide. |
| WTI | 2025-04-07 | 5 | -15.5% | -4.6 | Oil's steepest fall in 3 years on April 3 combined tariff demand worries with the accelerated OPEC+ supply increase. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-09 | [Oil prices fall most in 2 years as UAE supports output hike \| Reuters](https://feedsoft.ai/events/5776-oil-prices-fall-most-in-2-years-as-uae-supports-output-hike-reuters.md) | -21.5% | -18.3% |
| BRENT | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.4% |
| BRENT | 2020-08-03 | [Oil falls on supply glut fears as OPEC+ set to boost output - Markets - Business Recorder](https://feedsoft.ai/events/51785-oil-falls-on-supply-glut-fears-as-opec-set-to-boost-output-markets-business.md) | +2.4% | +4.4% |
| BRENT | 2021-07-18 | [OPEC+ agrees oil supply boost after UAE, Saudi reach compromise \| Reuters](https://feedsoft.ai/events/45985-opec-agrees-oil-supply-boost-after-uae-saudi-reach-compromise-reuters.md) | +0.6% | -4.4% |
| BRENT | 2018-05-25 | [Oil dives as OPEC signals plan to boost supplies \| AP News](https://feedsoft.ai/events/64938-oil-dives-as-opec-signals-plan-to-boost-supplies-ap-news.md) | -3.5% | -5.4% |
| WTI | 2022-03-09 | [Oil prices fall most in 2 years as UAE supports output hike \| Reuters](https://feedsoft.ai/events/5776-oil-prices-fall-most-in-2-years-as-uae-supports-output-hike-reuters.md) | -22.0% | -17.5% |
| WTI | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.7% |
| WTI | 2020-08-03 | [Oil falls on supply glut fears as OPEC+ set to boost output - Markets - Business Recorder](https://feedsoft.ai/events/51785-oil-falls-on-supply-glut-fears-as-opec-set-to-boost-output-markets-business.md) | +2.5% | +7.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-sinks-nearly-3-after-trump-announces-sweeping-new-tariffs-2025-04-03/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.