Crude Oil: Geopolitical Risks, OPEC+ Discord May Spark Potential Plunge Below $67

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Crude Oil: Geopolitical Risks, OPEC+ Discord May Spark Potential Plunge Below $67
Crude Oil WTI Futures
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Commodities Analysis by Investing.com (Damian Nowiszewski) covering: Brent Oil Futures, Crude Oil WTI Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com

Crude oil traders brace for potential volatility amid geopolitical tensions and OPEC+ disagreements.Staying nimble could prove essential as fresh headlines from the Middle East and OPEC+ loom large.For traders, navigating these turbulent markets requires understanding the pressures at play—pressures that seem poised to push oil prices even lower.

Iran, a top player with nearly 4 million barrels per day in production, makes up a sizable portion of global output, while the broader Middle East accounts for around a third of the world’s oil supply.Discord in OPEC+: Is Saudi Patience Running Thin? Conversely, if demand can regain strength, a short-term resistance at $72 offers a glimmer of hope for a rebound.

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