From Investing.com: 2024-11-18 05:51:00

Crude oil prices are under pressure due to rising supply and limited demand, with a potential surplus expected in 2025. Technical analysis suggests bearish trends unless a significant reversal occurs. Geopolitical risk premiums have decreased post-Trump’s election, with concerns of excess supply from non-OPEC producers.

The OPEC+ may struggle to support prices amid rising non-OPEC supply growth. Trump’s election has led to lower geopolitical risk premiums, impacting oil prices. The IEA predicts a surplus in the oil market in 2025, with weakening demand from China and increased non-OPEC production contributing to excess supply concerns.

Demand concerns intensify as OPEC cuts its oil demand growth forecast, citing weak demand in China. The OPEC+ is prepared to increase production but may postpone plans if prices fall further. WTI technical analysis indicates a bearish trend, with resistance levels to watch for potential price drops or recoveries.

Lackluster economic conditions and a shift to clean energy are dampening oil demand growth. Trump’s policies may further boost oil supplies. Traders are advised to look for bearish setups near resistance levels. The outlook for oil prices remains challenging due to supply-demand dynamics and geopolitical factors.



Read more at Investing.com: Crude Oil Could Extend Drop This Week Amid Rising Supply Concerns