Rising Crude Stocks, Higher OPEC Output May Keep A Lid On Oil Prices
1. Global oil prices are restrained by rising crude inventories and OPEC output increases. 2. Brent and WTI crude prices remain near four-year lows, showing bearish sentiment. 3. OPEC+ plans a third output increase, raising supply amid lagging demand growth. 4. Global oil inventories rose to 7.7 billion barrels, indicating oversupply concerns. 5. Floating storage shows a 14% increase, suggesting difficulty in offloading crude.