Oil stabilizes after a limited rise… Expectations of a fragile balance between global supply and demand
Follow-up
After a slight rise, oil prices stabilized in Tuesday’s trading, as markets anticipate developments in the production of the
“OPEC+” alliance and concerns about slowing global demand.
Brent crude recorded a marginal increase of one cent, reaching 65.48 dollars per barrel, while West Texas Intermediate held steady at 61.69 dollars per barrel, after both benchmarks had closed the previous session with a rise exceeding 1%.
Observers believe that the limited increase in production from “OPEC+” fell short of market expectations, alleviating concerns of excess supply, but worries remain about weak global demand and its potential repercussions on market balance in the coming weeks.
