Oil Prices Under Pressure Despite OPEC+ Decision ...Middle East

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Oil Prices Under Pressure Despite OPEC+ Decision
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Despite OPEC+ postponing its planned production increases until 2025, oil prices remain under pressure due to demand uncertainty. In a widely anticipated move, OPEC+ postponed its planned supply increases by another quarter, now pledging to start unwinding output cuts from April 2025 onwards. This, however, was not enough to convince oil markets of a bullish narrative lurking out there, not even the postponement of the UAE’s baseline quota increase could stop ICE Brent from dipping back below $72 per barrel. OPEC+ Delays Unwinding of…

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