Oil Prices Under Pressure Despite Expectations of an OPEC+ Deal Extension

Oil prices remain under pressure this week despite expectations that OPEC+ will agree to extend production cuts at this Sunday's meeting.Friday, May 31st 2024The Memorial Day holidays, which usually trigger a bump in gasoline consumption, failed to drive a significant increase in fuel demand, adding downward pressure to oil prices. Overshadowing higher refinery runs in the U.S., concerns over this year’s consumption patterns loom large over the summer months. Heading into the weekend, all eyes will be on OPEC+ as it meets in Vienna,…