West Texas Intermediate crude is projected to average $64.60 a barrel this year, according to a survey compiled by The Wall Street Journal. That's down about 3.76 a barrel from the March survey. Wall

Crude oil prices are headed for their worst monthly drop since 2021 as fears over a global economic downturn and demand shock as a result of tariffs come as the supply of oil is about to surge.

Oil prices fell about 2% to a two-week low on Tuesday on expectations OPEC+ will boost output even as U.S. President Donald Trump's on-again off-again trade tariffs could reduce global economic growth and demand for the fuel.