#supply-glut

#supply-glut

Crude oil prices remained close to the levels seen during the last few days. Markets could continue to consolidate while hopes of the US government reopening helped stabilize demand prospects. Additionally, expectations of a pause in production increases from OPEC countries next year could help limit downside risks. US sanctions on Russian oil majors could also continue to support prices as they could disrupt crude volumes and tighten supply to a certain extent.