Instituição: A produção da OPEP é crucial para o preço do petróleo

Phillip Nova, Senior Market Analyst at the Phillip Nova, wrote in a report that OPEC’s production blueprint could be crucial for oil prices. Sachdeva wrote that despite recent comments by Federal Reserve Chairman Powell suggesting a loosening of monetary policy, which led to a recovery in the oil market, the possibility of OPEC increasing production limited the upside potential for oil prices. She said the market is trying to estimate the likelihood of additional supply and weigh persistent concerns about the escalation of the Middle East situation. Sachdeva added that the market has recently downplayed geopolitical risks because oil supplies have not seen major interruptions, but this situation could soon change. Currently, the only constant in the oil market is volatility.