Oil prices have been on the mend this week after taking a dive following President Trump’s global tariff offensive launch.
The rebound in prices this week came as a result of indications that Trump was willing to consider some tariff exemptions for things like smartphones and semiconductors.
Chinese crude oil imports surged in March, contributing to the oil price recovery.
Countries such as Angola, Colombia, Nigeria, and Venezuela are set to feel pain from the oil price rout if the tariff war continues.