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Oil prices fell on Thursday parts and producers of unexpectedly informed plans to develop new tariffs to withdraw a global economic slowdown.

Eight members of Opec +, including Saudi Arabia and Russia, said they triple a planned increase in wool May production, carrying a commitment to the production of production cuts in the next 18 months.

Step comes hours after Trump, the US president, Create a New Tariff Regiment Those investors say more intense than expected and raises the risk of shrinking the world economy.

Twins of twins pushes to Krohan Krogdas, the global benchmark, down 7 percent of the $ 69.60 of the Japanese prestige for the sundiest day of each year. WTI, US benchmark, fell 7.6 percent to $ 66.21.

Parts of oil producers fall into the threat of low crude prices. At 1pm in New York ExxonMobil falls 4 percent to $ 113.63, Chevron has lost 5 percent of petroleum parts.

The index of the S & P 500 Energy sector fore has fallen more than 6 percent.

In spite of global growth damage from TARIFFEight Opec + members said they would increase the output by 411,000 barrels a day, from a previous target of 122,000 B / D.

Members, holding a virtual meeting on Thursday, said they took the decision “due to the continuous healthy markets and the positive sight of the market”.

OPEC members + prevents production in the past three years, cut their combined output at approximately 6mn B / D to prevent crude prices higher. That’s the first effect, helping to keep crude more than $ 90 a barrel for most of 2022.

But cuts are becoming less effective for hours due to weak growth in need, additional oil output other places and some OPEC + members stopped their quotas. In response, the Saudi Arabian led group began to ignore some steps this week.

The decision follows a time of increased tension between members like Kazakhstan, which is often bombed by its quota, and others like Saudi Arabia, with the largest division.

“Carry out a way to avoid a way to force the laggards,” said Amrita Sen, Director of Research Assergy Aspector.

Decision means oil is the hardest hit group of commodities On Thursday, but the prices for others, including copper, aluminum and uranium, also dropped despite the White House who released metals from tarops.

Benchmark London Copper prices reduced to 3 percent below $ 9,400 while aluminum dropped 2 percent in a six-month low.

“The tariffs and the overall gaining of trade is likely to result in higher prices and inflation ..

Fear of a global shrinkage and the threat of higher inflation can also hit the need for metal reasons including brass, he added.

Benchmark analysts said the need for commodities may suffer when tariffs carrying a higher price for the products they use, such as aluminum cans and aluminum tools.

Jamie Smyth Extra Report to New York