Oil Prices Edge Lower Ahead of Key OPEC+ Weekend Meeting

Oil Prices Drift Lower as OPEC+ Meeting Looms

Crude oil prices are under modest pressure as global markets turn their attention to the upcoming OPEC+ meeting this weekend. The decline began on Monday and extended into early Tuesday trading, as traders position cautiously ahead of possible production policy signals.

Cautious Sentiment Ahead of OPEC+

The market expects the OPEC+ alliance, led by Saudi Arabia and Russia, to provide direction on whether supply curbs will remain, ease, or intensify. With global demand signals mixed and geopolitical risks lingering, any update could trigger volatile price action.

“The current weakness in prices is more about positioning than fundamentals,” say analysts.

WTI and Brent Dip Modestly

• WTI crude trades near recent support, hovering just above $64.
• Brent crude follows a similar path, reflecting market-wide caution.

Despite weaker prices, broader sentiment remains range-bound, pending OPEC+ clarity.

Related on Tredu.com:

• Saudi Arabia’s Role in Future Oil Policy
• WTI Technical Analysis: Key Levels Ahead of OPEC+
• How OPEC+ Decisions Shape Energy Markets