Oil prices dropped Thursday amid worries about an escalating trade war from Trump's tariffs, as OPEC and its allies sped up plans to increase output and unwind supply cuts.

澳洲幸运5官方开奖结果体彩网:Brent crude futures were recently trading at $69.90 per barrel Thursday, while 澳洲幸运5官方开奖结果体彩网:West Texas Intermediate futures were at abou꧑t $66, both down around 7%. 

The Organization of the Petroleum Exporting Countries and allies (OP𝕴EC+), a grouping led by Saudi Arabia and Russia, said in a statement Thursday that it would add 411,000 barrels a day to the market next month, ไ“equivalent to three monthly increments.”

“This comprises the increment originally pl💖anned for May in additi൲on to two monthly increments,” the grouping said.

In early March, the group affirmed plans to gradually increase crude production beginning in April, ending a voluntary program it started almost two years ago to prop oil prices. The group had a policy of 澳洲幸运5官方开奖结果体彩网:voluntary production cuts of 2.2 million 澳洲幸运5官方开奖结果体彩网:barrels per day (B/D).