USOIL ANALYSIS🛢️

Oil prices remained relatively stable on Tuesday, trading in a narrow range. Investors are focused on the upcoming #OPEC+ meeting later this week. OPEC+, a coalition of oil-producing nations, is considering gradually increasing oil production by the first quarter of 2025. However, concerns about potential oversupply have put downward pressure on oil prices. OPEC+ controls approximately half of global oil production.

Key Price Levels:

Support: $67.50, $67.00, $66.50
Resistance: $69.00, $69.50, $70.00
A decline below $68.00 could indicate further downward momentum, while a sustained move above $68.50 may signal bullish sentiment.

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#USOIL #WTI #Crudeoil #energy
#OPEC