Oil Prices Swing Amid OPEC+ Decisions and Global Demand Shifts

Overview:\nOil markets are swinging between OPEC+ policy decisions and signs of improving demand from China.\n\nKey Developments:\n- OPEC+ members are discussing extending production cuts into the second half of 2025.\n- China's industrial output rose 4.2% in May, while petrochemical demand showed a modest pullback.\n- U.S. crude inventories fell by 1.2 million barrels last week, according to EIA data.\n\nMarket Impact:\n- Brent crude tested resistance above $84.50; WTI hovered around $80.20, showing consolidation.\n- Goldman Sachs forecasts Brent to exceed $90 by end-2025.\n\nInvestor Watchpoints:\n- Upcoming inflation data and the Fed’s rate decision will drive near‑term volatility.\n- Geopolitical tensions—Suez Canal congestion and Caucasus pipeline risks—could spark price spikes.\n\nOutlook:\nWhile short‑term choppiness is expected, improving demand and sustained supply constraints may support a gradual upside bias for oil prices.