The Financial Post reports in its Wednesday, April 9, edition that benchmark U.S. oil prices have fallen from $71.71 (U.S.) a barrel a week ago to just below $60 (U.S.) as of Tuesday afternoon. A Postmedia dispatch to the Post reports that global oil prices have recently declined due to concerns about weaker demand and increased supply from OPEC set to hit the market next month. Following President Donald Trump's announcement of a 10-per-cent tariff on imports and other reciprocal tariffs, OPEC+ plans to increase production by over 410,000 barrels per day in May. On the weekend, Saudi Arabia reduced the price of its key light crude product to its biggest buyers in Asia by $2.30 (U.S.) a barrel for May. By Sunday, Goldman Sachs chopped its expected annual price outlook for West Texas Intermediate (WTI) crude for next year to $55 (U.S.) a barrel because of forecasts of a "stagnating U.S. economy," it said in a note. For Albertans, the volatility could have major financial implications. The new provincial budget projects a $5.2-billion (Canadian) deficit for the fiscal year that began April 1, with non-renewable resources expected to generate 23 per cent of all revenues.