Institution: OPEC's production blueprint is crucial to oil prices.

On August 27th, the Golden Ten data, Phillip Nova’s senior market analyst Priyanka Sachdeva wrote in a report that OPEC’s production blueprint may be crucial to oil prices. Sachdeva wrote that although Federal Reserve Chairman Powell’s recent remarks indicate that monetary policy will begin to ease, leading to a rebound in the oil market, the possibility of OPEC increasing production has limited the rise in oil prices. She said the market is trying to estimate the possibility of additional supply and balance the ongoing concerns about the escalation of the situation in the Middle East. Sachdeva added that the market has been downplaying geopolitical risks recently because there has been no major interruption in oil supply, but this situation may change soon. At present, the only constant in the oil market is volatility.