# Oil prices plunge due to tariff-related demand worries and increased OPEC+ supply | articles | ING THINK

> Oil prices fell sharply as markets weighed a potential demand hit from US reciprocal tariffs alongside a surprise OPEC+ supply increase for May. Brent recorded its largest sell-off since August 2022 and front-month contracts traded below $70 a barrel.

- Date: 2025-04-04 · published 2025-04-04T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7294-oil-prices-plunge-due-to-tariff-related-demand-worries-and-increased-opec
- 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

Combined demand uncertainty from tariffs and rising OPEC+ supply points to lower energy prices, weighing on crude-linked costs and reducing biofuel margin support for vegetable oils.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2025-04-07 | 5 | -15.6% | -5.6 | Brent had its largest sell-off since 2022 as the tariff demand hit coincided with the surprise OPEC+ supply increase. |
| BRENT | 2025-04-08 | 5 | -16.6% | -5.2 | Attributes the largest sell-off since 2022 to tariff-driven demand worries plus the OPEC+ supply increase. |
| WTI | 2025-04-07 | 5 | -15.5% | -4.6 | Largest selloff since 2022 from tariff demand fears plus surprise OPEC+ supply. |
| BRENT | 2025-04-03 | 1 | -6.1% | -4.3 | ING analysis attributes the largest sell-off since 2022 to tariff-related demand worries combined with the OPEC+ supply increase, though it is dated a day later it explains the same move. |

## Sources

- think.ing.com: https://think.ing.com/articles/oil-prices-plunge-tariff-demand-worries-opec-supply/

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