INSUBCONTINENT EXCLUSIVE:
Oil markets entered April 26, 2025, facing hard realities as persistent oversupply and trade uncertainty drove prices to multi-month
lows.Data from major exchanges and agencies show WTI crude at $63.17 per barrel and Brent at $66.87, both posting weekly losses despite a
sources including NYMEX, ICE, and the International Energy Agency.Technical charts reveal the story behind the numbers
continues to trade in a narrow range, with $60 acting as a key support and $65 as resistance
The 200-period moving average has served as a ceiling, capping any sustained upward momentum.Analysts see little sign of a breakout, with
most traders expecting prices to remain rangebound as fundamentals offer no clear catalyst for recovery.Oil Prices Struggle as Oversupply
and Trade Tensions Weigh on Market
(Photo Internet reproduction)The core issue remains oversupply
OPEC+ members are openly discussing accelerating production increases from June, with Kazakhstan already signaling it will not cut output at
major fields.Several countries are producing above their quotas, prioritizing national revenues over cartel discipline
OPEC+ as a whole produces just over 40% of global supply, and internal tensions are rising as members seek to offset falling prices by
targets.Oil Prices Struggle as Oversupply and Trade Tensions Weigh on MarketOn the demand side, the outlook continues to deteriorate
The IEA has cut its global demand growth forecast for 2025 to just 730,000 barrels per day, down from previous estimates.The EIA and other
analysts attribute much of this downgrade to the escalating US-China tariff war, which has pushed duties on Chinese goods to 145% and
to domestic storage and further swelling inventories
Meanwhile, China has increased purchases from Saudi Arabia, shifting the balance of global flows.Geopolitical factors add another layer of
The US and Russia are reportedly making progress toward ending the conflict in Ukraine, but any resolution could release more Russian oil
onto global markets, exacerbating the supply glut.At the same time, the US has imposed new sanctions on Iranian shipping, but these measures
have not offset the broader supply-demand imbalance.Market sentiment remains cautious
ETF outflows have accelerated, and trading volumes reflect a lack of conviction among both bulls and bears
Analysts see little chance of a sustained rally unless OPEC+ reverses course or trade tensions ease.For now, the market remains stuck in a
holding pattern, with traders watching technical levels and waiting for a decisive shift in fundamentals.The story is clear: oil faces a
