Reported 19 days ago
Oil prices experienced a decline after OPEC+ postponed its planned output increase by three months and extended production cuts until the end of 2026. Analysts from Standard Chartered indicate that the oil market has not fully absorbed the implications of OPEC+'s updated unwinding strategy, which significantly lowers expected oil additions for 2025. Despite OPEC+'s claims, trader concerns about oversupply remain prevalent, further fueled by expectations of decreased oil prices following promises of increased U.S. production under the new administration.
Source: YAHOO