OPEC+ Output Cuts Are Finally Translating Into Higher Oil Prices

The release of U.S. inflation data suggesting a nearing peak in interest rates has brought relief to the world's largest economy. Modest consumer price increases in June, coupled with the smallest annual rise in over two years, have alleviated concerns about potential interest rate hikes by the Federal Reserve. This positive development has set the stage for a remarkable rally in September WTI crude oil, driven by supply cuts from major producers and a favorable demand outlook. Bullish Supply Outlook Oil prices have surged by an impressive 12%…