Concerns about demand resurfaced as OPEC revised its 2024 growth forecast due to softer demand in China from declining consumption and a struggling property market.
US EIA reported a 1% increase in proved oil and gas reserves for public companies, potentially easing short-term supply constraints and moderating oil price increases.
Geopolitical tensions in the Middle East may limit the downside potential in oil prices by creating uncertainty and supporting crude prices amid fears of supply disruptions.
Anticipation of the US consumer price index report and potential Fed interest rate cuts can influence economic activity, oil demand, and crude prices, determining the direction of oil markets.
[
Collection
]
[
|
...
]