Over the weekend , the Sino-U.S. trade war trade.financial.tension intensified Situation_deteriorate again as U.S. tariffs on 15 % on Chinese goods including footwear , smart watches and flat-panel televisions took effect .

The South American member of OPEC derives 96 percent of its export revenues from oil , so the decline Movement.down.loss in futures has hit exacerbated Situation_deteriorate a national economic decline Movement.down.loss , a foreign currency shortfall Shortage and a scarcity of basic goods .

However , a slowing Slow.weak global economy could worsen Situation_deteriorate the glut Oversupply it said .

The South American member of OPEC derives 96 percent of its export revenues from oil , so the decline Movement.down.loss in futures has hit exacerbated Situation_deteriorate a national economic decline Movement.down.loss , a foreign currency shortfall Shortage and a scarcity of basic goods .

The agency said a mild winter in Europe and the U.S. and problematic conditions in emerging markets like China could deepen Situation_deteriorate the supply surplus Oversupply as there may be no change Movement.flat in the supply situation for the near-term with Libyan production likely to remain healthy Grow.strong in 2016 as well .

`` I would n't be surprised if there was verbal commentary about possibly deepening Situation_deteriorate cuts Cause.movement.down.loss , if needed . ''

The increased Movement.up.gain exports will flood Europe with ultra-low sulphur diesel and add to Situation_deteriorate the gasoline surplus Oversupply in the region , slamming European refinery margins .

However , a softening Slow.weak global economy could add to Situation_deteriorate the oversupply Oversupply it said .

`` If the domestic economy falls apart Slow.weak , the decline Movement.down.loss in oil demand growth will radically worsen Situation_deteriorate . ''

The agency said a mild winter in Europe and the U.S. and problematic conditions in emerging markets like China could deepen Situation_deteriorate the surplus Oversupply as there may be no change Movement.flat in the output situation for the near-term with Libyan production likely to remain bullish Grow.strong in 2013 as well .

The bulls might get what they 're waiting for in June if Organization of the Petroleum Exporting Countries ( OPEC ) decides to hold Movement.flat or even add to Situation_deteriorate output curbs Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil prices increased Movement.up.gain to $ 100-a-barrel on concern Negative_sentiment renewed revolution Civil.unrest could hit Iraq 's output and add to Situation_deteriorate a supply shortfall Shortage from chaotic Libya and sanctions-bound Iran .

The boosted Movement.up.gain deliveries will flood Europe with ultra-low sulphur diesel and worsen Situation_deteriorate the gasoline oversupply Oversupply in world markets , slamming European refinery margins .

Tensions Geopolitical.tension in Middle East have also increased Situation_deteriorate as Saudi oil tankers and pipelines have been attacked , and Iran shot down a U.S. Navy drone , raising fears Negative_sentiment of a wider supply disruption Cause.movement.down.loss .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil futures increased Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed conflict Civil.unrest could hit Iraq 's output and worsen Situation_deteriorate a supply shortage Shortage from chaotic Libya and sanctions-bound Iran .

The South American member of OPEC derives 96 percent of its export revenues from oil , so the drop Movement.down.loss in prices has hit exacerbated Situation_deteriorate a national economic decline Movement.down.loss , a foreign currency shortage Shortage and a scarcity of basic goods .

However , a softening Slow.weak global economy could deepen Situation_deteriorate the supply overhang Oversupply it said .

The U.S. shale boom Grow.strong and threat of a global recession could lead to a oil-supply glut Oversupply , potentially driving OPEC to signal that it 's ready to deepen Situation_deteriorate supply curbs Cause.movement.down.loss .

The agency said a mild winter in Europe and the U.S. and problematic conditions in emerging markets like China could increase Situation_deteriorate the supply surplus Oversupply as there may be no change Movement.flat in the supply situation for the near-term with Russian supply likely to remain plentiful Grow.strong in 2016 as well .

The bulls might get what they 're waiting for in June if themselves decides to hold Movement.flat or even add to Situation_deteriorate production cuts Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil futures .

However , a weakening Slow.weak global economy could deepen Situation_deteriorate the supply surplus Oversupply it said .

The bulls might get what they 're waiting for in June if Opec decides to maintain Movement.flat or even increase Situation_deteriorate supply restrictions Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

The bulls might get what they 're waiting for in June if Organization of the Petroleum Exporting Countries ( OPEC ) decides to hold Movement.flat or even add to Situation_deteriorate production restrictions Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil futures .

The South American member of OPEC derives 96 percent of its export revenues from oil , so the slump Movement.down.loss in prices has hit exacerbated Situation_deteriorate a national economic deterioration Movement.down.loss , a foreign currency shortfall Shortage and a scarcity of basic goods .

The bulls might get what they 're waiting for in June if other major producers decides to hold Movement.flat or even deepen Situation_deteriorate output caps Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

The South American member of OPEC derives 96 percent of its export revenues from oil , so the deterioration Movement.down.loss in futures has hit exacerbated Situation_deteriorate a national economic slump Movement.down.loss , a foreign currency shortfall Shortage and a scarcity of basic goods .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil futures increased Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed turmoil Civil.unrest could hit Iraq 's output and increase Situation_deteriorate a supply shortage Shortage from chaotic Russia and sanctions-bound Iran .

The agency said a mild winter in Europe and the U.S. and problematic conditions in emerging markets like China could worsen Situation_deteriorate the glut Oversupply as there may be no change Movement.flat in the supply situation for the near-term with Russian output likely to remain robust Grow.strong in 2016 as well .

The news has increased Situation_deteriorate trade tensions trade.financial.tension between the two biggest economies in the world and risen investor fear of a trade war trade.financial.tension .

VIENNA -LRB- Reuters -RRB- - OPEC sailed through a brief , calm meeting on Wednesday - even as oil prices rose Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed strife Civil.unrest could hit Iraq 's output and deepen Situation_deteriorate a supply shortfall Shortage from chaotic Libya and sanctions-bound Iran .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil futures added Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed conflict Civil.unrest could hit Iraq 's output and increase Situation_deteriorate a supply shortage Shortage from chaotic Libya and sanctions-bound Iran .

The bulls might get what they 're waiting for in June if other major producers decides to hold Movement.flat or even add to Situation_deteriorate production caps Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

The South American member of OPEC derives 96 percent of its export revenues from oil , so the plunge Movement.down.loss in prices has hit exacerbated Situation_deteriorate a national economic dip Movement.down.loss , a foreign currency shortfall Shortage and a scarcity of basic goods .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil futures gained Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed violence Civil.unrest could hit Iraq 's output and worsen Situation_deteriorate a supply shortfall Shortage from chaotic Russia and sanctions-bound Iran .

However , a softening Slow.weak domestic economy could add to Situation_deteriorate the supply overhang Oversupply it said .