Affected by US tariffs and OPEC+ production increase plan, oil prices are expected to fall this week.

On March 7th, Jinshi data reported that oil prices rose on Friday, with both U.S. and Brent oils rising by more than 1%. However, under the impact of the Fluctuation in U.S. trade policy and OPEC+'s production increase plan, oil prices are still expected to plummet significantly this week. Earlier, U.S. Treasury Secretary Benson stated that if it helps peace negotiations, the U.S. will increase pressure on Iran and will not hesitate to impose sanctions on Russia 'wholeheartedly.' However, analysts from the BMI research department under Fitch Ratings stated, 'The oil market is facing new uncertainties on the supply side and dim prospects on the demand side.' The U.S. partially lifted tariffs on some goods from Mexico and Canada, further increasing the uncertainty of U.S. President Trump's trade strategy and its impact on the global economy. Meanwhile, there are reports that the additional supply from OPEC+ will soon hit the market, adding to the downward pressure on oil prices.