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US WTI Crude (Spot) (XTIUSD)US WTI Crude (Spot) (XTIUSD)US WTI Crude (Spot) (XTIUSD)

US WTI Crude (Spot) (XTIUSD)

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USOIL Today's Trading Strategy: Recently, oil prices have generally shown a narrow oscillating trend. In terms of influencing factors, on the one hand, uncertainties in global economic growth have made the outlook for oil demand unclear, putting some downward pressure on oil prices. For example, the slowdown in economic growth in some countries and insufficient factory capacity have reduced demand for crude oil. On the other hand, the production policies of the Organization of Petroleum Exporting Countries (OPEC) and its allies are also influencing oil prices. If they plan to increase production, the supply of crude oil in the market will rise, and prices may fall. USOIL Today's Trading Strategy: USOIL SELL@62.0~62.5 SL:63 TP:61~60
TVC:USOILShort
by AndyHopkins
US-Oil will further push upside After Testing TrendlineHello Traders In This Chart XTIUSD HOURLY Forex Forecast By FOREX PLANET today XTIUSD analysis 👆 🟢This Chart includes_ (XTIUSD market update) 🟢What is The Next Opportunity on XTIUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
TVC:USOILLong
by ForexMasters2000
The outlook for the crude oil market next weekOutlook for Next Week's Crude Oil Market Next week, the crude oil market will (most likely) remain in a range-bound pattern. If OPEC+ lacks clear and forceful measures regarding the implementation of production cuts and future supply plans, concerns about supply surpluses will continue to exert downward pressure on oil prices. Additionally, if global economic data does not improve significantly, the demand side will struggle to provide sufficient support for prices. However, tensions in the Middle East persist, with relations between Israel and Iran remaining highly strained. If conflicts escalate—for example, if Iranian nuclear facilities are attacked—global crude oil daily production capacity could be reduced by at least 1 million barrels. This risk of supply disruptions would instantly drive up oil prices. As a result, investors next week need to closely monitor OPEC+ dynamics, Middle East geopolitical developments, and global economic data to seize investment opportunities in the crude oil market.​ The outlook for the crude oil market next week, I hope it will be helpful to you USOIL BUY@61.0~61.5 SL:60 TP:62.5~63
TVC:USOILLong
by AndyHopkins
USOIL: Bulls Are Winning! Long! My dear friends, Today we will analyse USOIL together☺️ The market is at an inflection zone and price has now reached an area around 61.687 where previous reversals or breakouts have occurred.And a price reaction that we are seeing on multiple timeframes here could signal the next move up so we can enter on confirmation, and target the next key level of 62.377.Stop-loss is recommended beyond the inflection zone. ❤️Sending you lots of Love and Hugs❤️
FX:USOILLong
by FreeXauusdSignals
The outlook for the crude oil market next weekThis year, the crude oil market has been facing a tough time, with demand remaining sluggish. The growth in crude oil consumption has been slow, and inventories have been continuously building up. Institutions such as JPMorgan Chase have pointed out that the growth in global crude oil demand is much worse than expected. Moreover, OPEC+ is set to raise the crude oil supply ceiling from June, and has been increasing production in the previous few months, which has led to a further increase in the amount of crude oil in the market. Coupled with the recovery in shale oil production in non - OPEC+ countries such as the United States, and the expansion of production capacity in Norway, Brazil, and other countries, the supply side has exerted great pressure on oil prices. From the demand side, the slowdown in global economic growth has made people more cautious about industrial production and energy consumption. In addition, the energy structure is undergoing a transformation, with the share of oil in energy demand falling below 30% for the first time. The increasing number of electric vehicles and the growing use of renewable energy in the industrial sector have also contributed to the weak growth in crude oil demand. The outlook for the crude oil market next week, I hope it will be helpful to you USOIL SELL@62.0~62.5 SL:63.5 TP:61~60
TVC:USOILShort
by AndyHopkins
In - depth: USOIL 1 - hr Chart - Significance of 60.00 Support In the USOIL 1 - hour chart, 60.00 acts as a strong support 💪. Support Validation The price twice failed to break 60.00 and rebounded 📈. Psychologically, investors see 60.00 as a key level 🔑. Approaching it, buy orders pour in as they think crude oil is undervalued 📉. Technically, it's on a support line from prior lows, and repeated tests have fortified its support 🛡️. ⚡️⚡️⚡️ USOil ⚡️⚡️⚡️ 🚀 Buy@ 60.00 - 60.60 🚀 TP 62.50 - 62.80 Accurate signals are updated every day 📈 If you encounter any problems during trading, these signals can serve as your reliable guide 🧭 Feel free to refer to them! I sincerely hope they'll be of great help to you 🌟 👇
TVC:USOILLong
by Sovereign_1
USOIL Under Pressure! SELL! My dear friends, Please, find my technical outlook for USOIL below: The price is coiling around a solid key level - 61.69 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 61.18 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
1
Next Week’s Outlook, I hope it will be helpful to youRecent Oil Price Trends and Outlook The recent trend of oil prices has been volatile. On the supply side, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are discussing further production increases in July. If actual production is increased, the supply of crude oil in the market will rise, naturally putting downward pressure on prices. There has already been news that OPEC+ began gradually increasing supplies in May and June. If subsequent production increase plans continue to advance, concerns about supply surpluses will intensify. Forecast for Next Week’s Market Expectations of OPEC+ production increases and weak U.S. demand are likely to continue influencing the market next week. If OPEC+ confirms further production increases at its June 1 meeting, oil prices will (most likely) continue to face downward pressure next week. However, if unexpected situations arise—such as sudden geopolitical tensions affecting crude oil production and transportation—oil prices may also rise volatility. Based on current conditions, it is more likely that oil prices will maintain a (range-bound downward) pattern next week. Key resistance levels to watch are 63.0–63.5, and support levels are 60.5–60.0
TVC:USOILLong
by AndyHopkins
USOIL Today's Trading Strategy:Recent oil prices have been extremely volatile. On the supply side, OPEC+ has continued to increase production since June, with output hikes sustained over the past few months. This has led to a surplus in crude oil supply, exerting downward pressure on prices. Additionally, U.S. shale oil production capacity may gradually be released as prices rebound. However, production costs in U.S. shale oil regions, such as Midland, act as a floor for prices: new wells require oil prices to stay above $60 per barrel to be profitable, providing some support for prices. On the demand side, global economic growth has been sluggish. In particular, U.S. tariff hikes have impacted global commodity flows and suppressed oil demand growth in developing countries. However, a easing of U.S.-China trade tensions could potentially bolster oil demand. Moreover, heightened tensions in the Middle East, if conflicts escalate and disrupt oil production and transportation, could cause oil prices to surge in the USOIL Today's Trading Strategy: USOIL BUY@60~60.5 SL:60 TP:61.5~62
TVC:USOILLong
by AndyHopkins
2
WTI Oil H4 | Pullback support at 50% Fibonacci retracementWTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 59.71 which is a pullback support that aligns with the 50.0% Fibonacci retracement. Stop loss is at 57.50 which is a level that lies underneath a swing-low support. Take profit is at 63.72 which is a multi-swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Global LLC (tradu.com ): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
TRADU:USOILLong
by Tradu
2
Textbook Falling Wedge & Wyckoff Accumulation Brewing?Analysis: Looking at the daily chart for Crude Oil, we appear to be seeing a very compelling confluence of bullish technical signals that suggest a potential significant reversal to the upside. Textbook Falling Wedge Formation: Price action is clearly consolidating within a well-defined falling wedge pattern. We have observed multiple clear touches (3+ on the upper, 4+ on the lower trendline), indicating these boundaries are highly respected by the market. Crucially, volume has been declining as price consolidates within the wedge, a classic characteristic signifying diminishing selling pressure. The angles of convergence also appear ideal, with the upper trendline being steeper than the lower. Wyckoff Accumulation Schematic #1 in Play? Diving deeper, the internal structure of this falling wedge strongly resembles Wyckoff's Accumulation Schematic #1. We can identify potential phases: PS (Preliminary Support): Early signs of buying. SC (Selling Climax): A sharp sell-off often with high volume, marking potential capitulation. AR (Automatic Rally): The first significant bounce after the SC. ST (Secondary Test): Retesting the lows of the SC. Spring: A key event where price dips below the established trading range support (or the wedge's lower trendline) only to quickly reverse back above it, effectively trapping sellers and confirming a shakeout of weak hands. This internal Wyckoff structure within the falling wedge significantly strengthens the case for institutional accumulation taking place. Bullish Candlestick & Oscillator Confluence: At the recent lows, we observed a potential Piercing Line bullish reversal candlestick pattern forming right at the lower trendline of the wedge. This indicates aggressive buying stepping in. The MACD indicator has confirmed this bullish shift, showing a recent bullish crossover (MACD line above Signal line) and a flip of the histogram from red to green. Furthermore, there appears to be a bullish divergence on the MACD – as price made lower lows within the wedge, the MACD indicator made higher lows (or showed increasing bullish momentum), suggesting underlying bearish momentum is weakening significantly. Market Sentiment & Potential Implications: It's noteworthy that this bullish technical setup is occurring amidst increased bearish media and Twitter sentiment surrounding oil. From a contrarian perspective, extreme bearish sentiment often coincides with market bottoms, as "smart money" accumulates positions while the crowd is most pessimistic. This situation could set the stage for a strong reversal, potentially fueled by short covering. Conclusion: All signs from price action, volume, candlestick patterns, and oscillators point towards a high probability of a bullish reversal and an upside breakout from this well-formed falling wedge. The potential Wyckoff accumulation pattern adds significant weight to the idea that sophisticated players are positioning for a significant move higher. What to Watch For: The next critical step is a decisive breakout above the upper trendline of the falling wedge, ideally accompanied by a significant surge in buying volume. This would confirm the pattern's completion and signal the potential start of a new uptrend. A more aggressive approach is entering now and capturing more upside if it is to occur. This is for educational purposes only and not financial advice. Always conduct your own research and manage your risk.
BLACKBULL:WTILong
by MikeMM
USOIL A Fall Expected! SELL! My dear followers, This is my opinion on the USOIL next move: The asset is approaching an important pivot point 61.87 Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 61.38 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
1
Bullish bounce?USO/USD is falling towards the support level which is an overlap support that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit. Entry: 60.39 Why we like it: There is an overlap support level that lines up with the 50% Fibonacci retracement. Stop loss: 57.93 Why we like it: There is a pullback support level that aligns with the 161.8% Fibonacci extension. Take profit: 64.42 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDLong
by VantageMarkets
Latest Strategic Positioning for Crude OilDuring the US trading session, crude oil prices declined for the second consecutive trading day after rebounding from intraday lows and encountering resistance. The commodity traded at $60.42 per barrel, representing a 1.87% daily loss. Per the Commitments of Traders (COT) report released last Friday, there exists a moderate divergence in sentiment between managed funds and asset management firms regarding WTI crude oil futures. While both investor categories maintain net long positions, over the prior two weeks, managed funds reduced their net long exposure by approximately 20,000 contracts, whereas large speculators increased their net long positions by 10,000 contracts. Technically, crude oil exhibited a "rally-and-reversal" pattern today, retreating under selling pressure near the $61.7 resistance zone before stabilizing and rebounding around $60.0. Current price action indicates a range-bound oscillation, with bullish stabilization probabilities contingent on the $60.0 support level holding firm. In summary, crude oil remains trapped in a narrow consolidation phase, with overhead resistance levels retaining dominance. For today's trading strategy, a "rebound shorting-first" approach is recommended, complemented by tactical long positions on dips. Key resistance lies between $61.7-$62.5, while support zones are identified at $60.0-$59.0. In the market, there are no absolutes, and neither upward nor downward trends are set in stone. Therefore, the ability to judge the balance between market gains and losses is your key to success. Let money become our loyal servant.
TVC:USOILLong
by Ashbur
Crude Oil – Geopolitical Risks and Stockpiles Impacting PricesThe recent reduction in global trade tensions has helped Crude Oil (WTI) prices recover from lows of 55.64 seen on May 5th, to trade comfortably above 60 for the last 2 weeks. Traders have readjusted their thinking and positioning to account for a slightly more stable background for the global economy, and its potential influence on upcoming demand for Oil. However, despite this, tests of the recent highs at 65.33, seen on April 23rd, have been few and far between, although yesterday saw a spike in Crude Oil prices up to a 1 month high of 64.60 on a CNN report that suggested that Israel has drawn up plans to attack Iran's nuclear facilities. While prices have since moved lower again, the market reaction to this news does highlight the sensitivity of traders to any potential escalation in geopolitical risks in the region. It is also important to remember that traders are still awaiting updates on progress from US/Iran talks to curb Iran's nuclear activities. President Trump only a week ago said a deal was getting close, while Iran's top negotiator has seen shed some doubt over whether that's the case. Either way, updates on both of these crucial events may well influence Crude Oil prices moving forward. Adding to yesterday's volatile moves was a weekly report providing an update on the size of US Oil inventories which always grabs the attention of traders. Yesterday's release quickly dashed any hopes of a fresh move to test higher levels as it outlined an increase in stockpiles to 10 month highs and a fall in gasoline demand, which saw prices fall back lower (61.71 low) into the recent trading range. This extra volatility within the recent trading range sets up a potentially tense finish to the week for Crude Oil prices, so its often useful to check out the technical landscape for further insight. Technical Update: Evidence Points to a Sideways Range Since the sharp acceleration lower into the 55.20 April 9th 2025 low, Crude Oil has seen a consolidation emerge, with the mid-April recovery finding resistance at 65.15, which is equal to the 38.2% Fibonacci retracement of January 15th to April 9th 2025 weakness (see chart below). This activity looks to have established both upper and lower extremes of a sideways range in price, especially as the latest price movement has been held within these levels, which are 65.15 to the upside and 55.20 to the downside. Within technical analysis, this highlights something of a ‘battle’ between buyers and sellers, where price weakness is supported by buyers at or just above the 55.20 low, while price strength runs into resistance, as sellers continue to be found near the 38.2% retracement level at 65.15. Adding Bollinger Bands To Support Trading Decisions Now look at the chart below, where we include Bollinger bands alongside price action. This also appears to support an argument that a sideways trading range is forming. The mid-average is currently flat with both the upper and lower Bollinger bands parallel to it, outlining that balanced price volatility is evident for now. This suggests the sideways range may well continue with the upper band, currently at 64.77 and the lower band, currently at 57.36. We could argue that with the proximity of both the 65.15 Fibonacci retracement resistance to the upside, and the 55.20 April 9th low to the downside, upper extremes of the current range are 64.77/65.15, and lower levels of the current range are between 55.20/57.36. What Could This Mean for Crude Oil? For now at least, from a technical perspective the risks appear for the price of Crude Oil to remain within the confines of the current 55.20/57.36 up to 64.77/65.15 trading range, as there is no evidence emerging of an imminent breakout yet. A closing breakout from the current range is required to suggest potential for a more extended phase of price movement,. Of course, while any closing break is not a guarantee of a sustained move in the direction of the eventual break, any closes above 65.12/15 might see traders anticipate a further recovery in price towards 68.13, which is equal to the 50% Fibonacci retracement, even 71.17, the higher 61.8% level. To the downside, closes below the 55.20/57.30 lower daily Bollinger band and April 9th price low, might now be needed to skew possibilities towards a more extended phase of weakness. Such activity might then suggest potential for further downside, towards 51.38, which was a price low established in January 2021. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
PEPPERSTONE:SPOTCRUDE
by Pepperstone
USOIL Will Fall! Short! Take a look at our analysis for USOIL. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 60.503. Taking into consideration the structure & trend analysis, I believe that the market will reach 55.493 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
FX:USOILShort
by SignalProvider
4
USOIL Today's Trading StrategyFrom the demand side, although U.S. crude oil inventories are currently rising and oil product demand is declining, the summer driving season is approaching, and gasoline consumption is expected to increase significantly—a yearly pattern. For example, during summer, increased driving leads to more people refueling at gas stations, boosting gasoline demand and in turn driving crude oil demand growth. Additionally, the gradual recovery of the global economy will increase industrial production's consumption of crude oil, providing strong support for oil prices. In terms of geopolitics, tensions in the Middle East persist, with high uncertainty surrounding the Iran nuclear negotiations and elevated risks of conflict between Israel and Iran. If a conflict breaks out, crude oil production and transportation in the Middle East will inevitably be disrupted, reducing global crude oil supply and causing oil prices to surge rapidly like a rocket. USOIL Today's Trading Strategy: USOIL BUY@61~60.5 SL:60 TP:62.5~63
TVC:USOILLong
by AndyHopkins
1
USOil Dips Amid Global Demand WorriesXTI/USD is currently exhibiting bearish technical signals, with key indicators pointing towards potential further declines. However, the presence of oversold conditions suggests that a short-term rebound could occur if prices find support at current levels. Traders should monitor the $60.13 support and $61.38 resistance levels closely, as breaks of these levels could signal the next directional move. XTI/USD is experiencing a noticeable downward shift in market sentiment. After a period of relative stability, prices have started to decline, influenced primarily by concerns over global demand and shifting geopolitical conditions. Despite earlier support from tensions in Eastern Europe and U.S. sanctions on Russian energy exports, the market now appears to be reacting more to economic headwinds, such as signs of slowing industrial growth in major economies like China and the Eurozone. Traders are closely watching whether current support levels will hold or if the recent downward momentum will lead to a deeper correction. Overall, the sentiment leans cautious, with traders waiting for clearer signals from both supply-side developments and macroeconomic indicators. Pivot Points: Support Levels: S1 at $60.13, S2 at $59.69, S3 at $58.88. Resistance Levels: R1 at $61.38, R2 at $62.19, R3 at $62.63. Bearish Outlook Trigger: A break below the $60.13 support level. Targets: $59.69 followed by $58.88 Invalidation: A decisive move above the $61.38 resistance level. Bullish Outlook Trigger: A sustained break above the $61.38 resistance level. Targets: $62.19 followed by $62.63 Invalidation: A drop below the $60.13 support level. Note Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
ICMARKETS:XTIUSDShort
by SibiSh
OIL: A Bearish Setup And Geopolitical UncertaintyOIL: A Bearish Setup And Geopolitical Uncertainty Today Oil is showing a clear bearish pattern development but it comes with a high risk from a fundamental perspective. Technical analysis: The price faced a strong resistance near 64 - 64.80 from where it moved down several times. The Chart is showing in a clear way the possibility of a bearish movement with targets 60.2 ; 58 and 56. It's possible that OIl may follow this way down if we don't take the news in consideration. Fundamental Analysis: Yesterday OIL declined toward $61 as traders anticipate positive developments on teh next round between US-Irand Nuclear negotiations. Earlier yesterday their lider said that the deal with the U.S was impossible. On the other hand, On Tuesday, the US obtained new intelligence suggesting that Israel is making preparations to strike Iranian nuclear facilities, even as US President Donald Trump has been pursuing a diplomatic deal with Tehran. It isn’t clear that Israeli leaders have made a final decision to carry out the strikes, CNN said, citing unnamed officials. So all of this is not a clear situation and if something happens OIL may rise aggressively up again. But this is all related to the news now. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
TVC:USOILShort
by KlejdiCuni
14
USOIL Today's Trading Strategy:Recently, there have been many developments in the crude oil market that affect the price trend. From the supply side, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have been committed to production cuts to stabilize oil prices. Some member countries have even taken unexpected production - cutting actions, which has reduced the crude oil supply to a certain extent. Major oil - producing countries such as Saudi Arabia have cut their own crude oil production, sending a strong signal to the market to control the supply. Meanwhile, the global crude oil demand has not declined significantly. With the gradual recovery of the global economy, industrial production activities in many countries have increased, and the demand for crude oil has also increased. In particular, some emerging economies have a relatively high - speed economic growth and a high degree of dependence on crude oil. Their growing demand strongly supports the crude oil price. USOIL Today's Trading Strategy: USOIL BUY@61~60.5 SL:60 TP:62.5~63
TVC:USOILLong
by AndyHopkins