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LONDON (Reuters) -OPEC+ has decided to proceed with a planned April oil output increase, the group said on Monday, a move that follows U.S. President Donald Trump renewing pressure on OPEC and Saudi Arabia to bring down prices. The increase is the first since 2022 from OPEC+, which includes the Organization of the Petroleum Exporting Countries, plus Russia and other allies. Oil was trading 2% lower towards $71 a barrel at 1900 GMT.

When Donald Trump started the biggest trade war since the 1930s in his first term, his impulsive combination of threats and import taxes on U.S. trading partners created chaos, generated drama -- and drew criticism from mainstream economists who favor free trade. The trade war sequel that Trump has introduced in his second term is likely to be a different matter altogether. Trump appears to have grander ambitions and is operating in a far more treacherous economic environment this time.

The health of the US economy is looking less and less stable by the day.

Unemployment was 6.2% in Portugal in January 2025, the lowest since October 2022.View on euronews

St. Louis Federal Reserve President Alberto Musalem said on Monday he expects the U.S. economy to continue to expand this year, but recent weaker-than-expected consumption and housing data and reports from business contacts have raised concerns about possible risks to growth. "Recent anecdotal reports from business contacts are more mixed, and some measures indicate that business activity has slowed, suggesting increased caution at least among some firms," he said. "While I continue to expect the economy to grow at a good pace in coming quarters, I would become concerned if we begin to see more evidence of a consumer pullback or a dampening of business confidence and investment plans," Musalem said.

Falling inflation is a positive sign for the country battling with dramatic price rises and a weak lira.View on euronews

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