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Crude oil futures prices stop falling, Trump's nomination of Secretary of State may lead to stricter sanctions against Iran.
Crude oil futures rose slightly on Wednesday, driven by short covering.
Crude Oil Trades Stuck at $68 Level Ahead of API Stockpile Data
Trump aims to trigger an oil boom, but oil giants indicate it is not that simple!
Analysts say that it is difficult for any president to change the direction of oil prices or rbob gasoline prices.
Oil Inches Higher But Demand Outlook Weighs on Sentiment -- Market Talk
Will oil prices drop to $40 next year? Wall Street is hotly debating this possibility.
Analysis suggests that if OPEC+ lifts its current production cuts in 2025, international oil prices could drop significantly by 40%, to around $40 per barrel. However, OPEC+ is more likely to opt for a gradual easing of the production cuts, rather than an immediate comprehensive removal of the cuts.
If OPEC+ cancels the voluntary production cut plan, what will happen? Analysis: Oil prices may be halved next year.
1. The agreement of OPEC+ member countries to reduce daily production of 2.2 million barrels of crude oil has been postponed until the end of December; 2. Market observers state that if the organization does not reach a genuine agreement to control production in the future, oil prices may fall to $30 or $40 per barrel next year; 3. According to forecasts, the organization is more likely to gradually phase out production cuts early next year, rather than immediately withdrawing completely.