Insight

Oil: Saudi Output, China Stimulus or Geopolitical Risk?

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Algo Research Team

Market | Sep 30, 2024 | Views: 115

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Key Summary:

  • Potential oil production increase from OPEC+
  • China stimulus to provide a support at $70
  • Geopolitical risk remains on wait and see

In the past week, many factors affected sentiment in the oil market, but ultimately a potential supply concern prevailed, leading to Brent/WTI oil prices down -2.5%/-4% WoW to close around $72/$69 per barrel, respectively.


The big picture: Oil prices have been trending down in the past few months due to a combination of steady supply, weak economic outlook and less geopolitical tensions.

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