Oil News: Will More Aggressive OPEC+ Supply Cuts Reverse the Bearish Trend?
📉 Crude oil futures plunged 4.55% this week to $68. Will OPEC+ cuts and strong demand stabilize prices in December?
👉 Resistance at $71.53 capped crude oil’s gains, pushing prices toward $66.53 support. Can OPEC+ prevent deeper losses?
👉 Geopolitical stability reduced risk premiums, but Iran’s regional role keeps traders cautious. Will tensions reignite?
👉 U.S. crude inventories fell 1.84M barrels, signaling demand strength, but gasoline stockpiles showed mixed consumption trends
👉 Oversupply fears persist as the IEA forecasts a surplus of 1M barrels per day by 2025, weighing on the long-term oil outlook
@news_finance
📉 Crude oil futures plunged 4.55% this week to $68. Will OPEC+ cuts and strong demand stabilize prices in December?
👉 Resistance at $71.53 capped crude oil’s gains, pushing prices toward $66.53 support. Can OPEC+ prevent deeper losses?
👉 Geopolitical stability reduced risk premiums, but Iran’s regional role keeps traders cautious. Will tensions reignite?
👉 U.S. crude inventories fell 1.84M barrels, signaling demand strength, but gasoline stockpiles showed mixed consumption trends
👉 Oversupply fears persist as the IEA forecasts a surplus of 1M barrels per day by 2025, weighing on the long-term oil outlook
@news_finance