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With China gradually easing its lockdowns, the EU on the brink of announcing oil sanctions against Russia, and OPEC+ underproducing, bullish sentiment has taken over oil markets
Fears of a global economic slowdown are beginning to weigh on oil markets, with demand undermined by covid lockdowns, interest rate hikes, and Russia’s war on Ukraine.
Uncertainty regarding both supply and demand has left oil prices stuck near the $100 per barrel mark and waiting for a major catalyst to spark a move
The International Monetary Fund slashed its global economic growth forecast on Tuesday morning, sparking fears of demand destruction for oil and gas
Oil prices are rangebound as IEA members discuss the release of crude from their strategic reserves, potentially following in the footsteps of Biden