Supply Becomes a Downward Risk for Oil Prices Despite OPEC+ Cuts

This week's crude oil price movements have been significantly influenced by various economic indicators and central bank policies. In the U.S., the Federal Reserve's preferred inflation gauge, the personal consumption expenditures (PCE) index, showed January inflation aligning with expectations, keeping the possibility of a June interest rate cut in play. Despite mixed economic data supporting potential rate cuts, these adjustments are likely due to the slowing economy, affecting oil demand. Earlier reports on U.S. consumer and producer prices…