OPEC, crude oil
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The Energy Information Administration (EIA) of the U.S. Department of Energy recently released its forecast for OPEC’s daily crude oil production in 2026, projecting a steady increase to 33.08 million barrels per day.
West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $67.36 per barrel, up from Wednesday’s close at $67.32. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $69.61 price posted on Wednesday, and trading at $69.67.
The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of difficulties affecting others.
Crude oil outlook turns bearish as geopolitical risks ease, OPEC plans a supply hike, and demand signals remain weak ahead of next week’s trade.