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Why oil prices are plummeting
C
CGTN Europe
30,493 views • Apr 04, 2025
Description
Oil prices just saw their sharpest drop since 2022, falling nearly 5% in a day. The reason? A double shock to the market. First, Trump’s new global tariffs reignited fears of a trade war and slower growth — which means weaker demand for oil. Then OPEC+ surprised markets with a major production hike, adding more supply just as demand forecasts are falling. The result: prices plunged, and volatility is rising. Watch the full video for the key drivers — and what might happen next.
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