Oil prices have been dropping but finally saw a 7% increase in the last 5 days. This may signal the bottom is in, with smart money buying and geopolitics and OPEC driving the shift. Potential for $75-80 crude.
U.S. markets closed lower due to Nvidia's warning and Fed Chair Powell's remarks. Retail sales rose, while industrial production declined. Asian markets were mixed. Oil prices rose on supply concerns, gold and silver prices fell. Dow futures up, dollar strong.
These cuts are intended to offset the overproduction that has occurred beyond the agreed-upon quotas set by the organisation in previous months. The move signifies OPEC’s commitment to maintaining stability in the global oil market.
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Buffett hasn’t sold a single OXY share in 2025. Discover if now is the right time to invest in Occidental Petroleum amid oil price drops and debt concerns.
The cartel now anticipates a demand increase of 1.3 million barrels per day (bpd) for 2025, down 150,000 bpd from its previous projection. Similarly, the 2026 forecast has been adjusted downward to 1.28 million bpd.
The group has revised its 2026 global oil demand growth estimates and expects the figure to hit 1.28 million barrels per day (mb/d), compared to the 1.45 mb/d projected earlier.
addition, the U.S. exempted certain electronics from reciprocal tariffs, easing fears of a deepening trade war.US markets closed higher fueled by upbeat bank earnings and comments from Fed officials. All 11 S&P 500 sectors gained, with materials and tech leading. Asia markets rose, and European markets up as US exempts some goods from tariffs.
