Oil settled largely unchanged in choppy trade on Thursday, with global benchmark Brent closing below $70 a barrel under pressure from tariffs between the U.S., Canada, and China, and plans by OPEC+ to raise output.

Crude oil finished with another week of losses, as markets were pushed and pulled by OPEC's decision to go ahead with production increases starting in April and uncertainty over U.S. tariffs.

Oil prices fell on Monday afternoon to their lowest level of the year after the OPEC oil cartel and its allies affirmed plans to gradually increase crude production beginning in April.

Alexander Novak said that while Opec+ would proceed with a plan to start pumping more oil in April, the group could “always play in the other direction” if the market became oversupplied. In response,