Next Week Will Be Critical For Oil Markets

The next few days will be one of the most crucial for the oil market in weeks as several events and factors at the same time could determine the trend in prices by the end of this year and beyond.   While the Chinese zero-Covid policy and protests against that policy weigh negatively on market sentiment, the OPEC+ meeting on December 4 and the beginning of the EU embargo on Russian seaborne crude oil imports on the next day are likely to shape the course of the prices. Uncertainty is high, which would stoke further volatility in prices. …