Rising OPEC+ Supply & Weak Demand To Drag Crude Price Lower

293 Views07 Jul 2025 14:21

SUMMARY

Crude oil soared on conflict and sank just as fast on ceasefire. Prices surged to a 5-month high following the U.S. strikes on three Iranian nuclear facilities.
June’s price action was driven by geopolitical shocks, not sustained fundamentals. Oversupply concerns remain dominant.
On 05/Jul, eight key members of OPEC+ alliance agreed to raise oil output in August. Instead of the anticipated 411kbpd increase, the group opted for a steeper hike of 548kbpd.

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