WTI Price Analysis: Faces stiff hurdles around $72.00 as OPEC output to remain steady Oil WTI DollarIndex SupportResistance Breaking
as OPEC is not expected to cut its overall output ahead.
The oil price is at a make or a break level near the upward-sloping trendline plotted from May 04 low at $67.47.s Russian Deputy Prime Minister Alexander Novak said he expected no new steps from OPEC+ at its meeting on June 4. Contrary to that, Saudi Energy Minister Abdulaziz bin Salman had hinted at the possibility of another round of production cuts at the meeting.Index has corrected to near 104.21 as continuous negotiations between the White House and Republican leaders are indicating that a bipartisan will be there before the US Treasury meeting deadline of default.
The oil price is at a make or a break level near the upward-sloping trendline plotted from May 04 low at $67.47.
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