China and OPEC+ Provide Support for Oil Prices

Crude oil prices have found some support this week, driven by China’s economic recovery and OPEC+ production strategies. China, the world’s second-largest oil consumer, reported its fastest factory activity growth in five months, reinforcing optimism about future crude demand. Analysts view Beijing’s targeted stimulus measures as a potential catalyst for stabilizing global oil markets. OPEC+ has already acted to stabilize prices by extending its voluntary production cuts of 2.2 million barrels per day (bpd) until March 2025. These…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com