Upside ahead for oil prices as supply comes into focus

Oil prices climbed this week as OPEC+ committed to controlling supply while Trump continued his efforts to choke Iran's oil industry.

Oil prices climbed this week as OPEC+ committed to controlling supply while Trump continued his efforts to choke Iran’s oil industry.

Buoyed by Trump’s continued pressure on Iran and OPEC+’s renewed efforts to send prices higher ahead of its April meeting by committing to additional overcompensation plans, ICE Brent is creeping back closer to the $75 per barrel mark, posting its second weekly gain. The oil markets have become desensitized to US Federal Reserve meetings and with the awkward implementation of the 30-day ban on energy strikes between Russia and Ukraine, there might be further upside ahead for crude.

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Source: Oil Price

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