Oil prices are experiencing stabilization as OPEC+ considers postponing a planned output increase of 180,000 barrels per day due to market uncertainties and weak demand from China.
Recent discussions among OPEC+ members highlight the need to reassess the planned increase in output amid concerns surrounding supply disruptions in Libya and declining demand, particularly from key markets like China.
The American Petroleum Institute reported a drastic 7.4 million barrel decrease in U.S. crude stocks, which greatly exceeded the expected reduction, underscoring tightening inventories and influencing oil market sentiments.
Despite sharp declines in inventories, the overall outlook for oil prices remains cautious, as ongoing data disappointments from major economies, including the U.S. and China, continue to pose risks.
[
Collection
]
[
|
...
]