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WTI Crude Oil Technical Analysis

On Sunday, the OPEC+ delivered some more bullish news for the oil market as it looks like they want to keep prices above $70 level. In fact, Saudi Arabia announced that it will make additional voluntary production cut of 1 million bpd starting in July for one month, although it can be extended based on the market outlook. All the other members will extend their production cuts through 2024.The OPEC+ supply cuts are undoubtedly bullish in the short-term but we have already seen that in a contract... Read More

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Posted: Jun 5 2023, 11:33

Author Name: forexlive

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