INSUBCONTINENT EXCLUSIVE:
The global oil market witnessed a downturn as crude prices fell for the third consecutive day
Investors reacted to the Organization of Petroleum Exporting Countries and Allies (OPEC+) decision to postpone production cuts.This move,
coupled with rising geopolitical tensions, led to a decline in oil prices
Brent crude, the international benchmark, dropped 1.34% to $71.12 per barrel for February 2025 contracts
The price fell 1% over the week.Meanwhile, West Texas Intermediate (WTI) crude for January delivery decreased by 1.61% to $67.20 per barrel
WTI recorded a 1.17% weekly loss
2.2 million barrels per day (bpd) in April 2025
This reduction will occur in monthly increments of 138,000 bpd over 18 months until September 2026.Global demand slowdown and increased
non-OPEC production forced this delay
(Photo Internet reproduction)However, it also highlights the challenges faced by oil producers in a changing energy landscape
Geopolitical tensions added another layer of complexity to the oil market.Geopolitical Tensions and Oil Market UncertaintyRussian President
Vladimir Putin announced plans to deploy the new Oreshnik hypersonic missile in Belarus by mid-2025
of the Oreshnik missile was a signal for the West to take Russia seriously.However, these developments create uncertainty in the oil market
market now faces a delicate balance between supply management and geopolitical risks
As the energy sector navigates these challenges, market participants must remain vigilant.The interplay between OPEC+ decisions and global
political events will likely continue to influence oil prices in the coming months
This situation underscores the need for diversified energy strategies and robust risk management in the oil industry.
