Oil Demand Outlook Remains Uncertain Ahead Of OPEC Meeting

Ahead of the upcoming OPEC+ meeting, July WTI oil prices saw a significant increase on Thursday, offsetting rising inventories in the US. The passing of a bill to suspend the US debt ceiling by the House of Representatives also contributed to the positive sentiment. However, overall market performance for the week remained lower. The successful debt ceiling negotiations brought some relief, but the demand outlook for crude oil remains uncertain. The focus now shifts to the June 4 OPEC+ meeting, which has prompted caution due to a warning from the…