{"id":17822,"date":"2025-03-07T02:20:04","date_gmt":"2025-03-07T02:20:04","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=17822"},"modified":"2025-03-07T02:20:04","modified_gmt":"2025-03-07T02:20:04","slug":"oil-inches-up-amidst-mixed-market-signals","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-asia\/analysis\/oil-inches-up-amidst-mixed-market-signals\/","title":{"rendered":"Oil Inches Up Amidst Mixed Market Signals"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/1_download-11-1024x559.png\" alt=\"\" class=\"wp-image-17833\" \/><\/figure>\n\n\n\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>CL-OIL (WTI Crude) opened at<strong> $66.342 <\/strong>and closed at<strong> $66.395<\/strong>\u2013a modest <strong>technical recovery<\/strong> after recent losses but concerns over <strong>OPEC+ supply plans<\/strong> persist.<\/li>\n\n\n\n<li><strong>Chevron\u2019s Venezuela license revocation<\/strong> adds short-term uncertainty, as operations must be wound up by <strong>April 3<\/strong>.<\/li>\n\n\n\n<li><strong>The Kirkuk-Ceyhan pipeline<\/strong> could restart, and Kazakhstan may increase production, putting pressure on oil prices.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Oil Recovers Slightly Amid Supply Uncertainty<\/h2>\n\n\n\n<p>CL-OIL (WTI Crude) <strong>traded around $66.395 per barrel on Thursday<\/strong>, stabilizing after four straight days of declines. Prices moved within a narrow range, reaching a <strong>high of $66.420 and a low of $66.110<\/strong>, as traders weighed <strong>OPEC+ output plans and potential disruptions<\/strong> in Venezuela.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"451\" src=\"https:\/\/www.vtmarkets.com\/en-asia\/wp-content\/uploads\/sites\/27\/2026\/03\/7.3_1-1024x451.jpg\" alt=\"\" class=\"wp-image-17835\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: CL-OIL stabilises at 66.395, testing resistance at 66.80 amid neutral momentum, as seen on the&nbsp;<a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a><\/em>.<\/p>\n\n\n\n<p>CL-OIL edged up <strong>0.08<\/strong>%, closing at <strong>66.395 <\/strong>after opening at <strong>66.342<\/strong>. The price tested a high of <strong>66.420 <\/strong>and a low of <strong>66.110<\/strong>, indicating consolidation near recent levels.<\/p>\n\n\n\n<p>The moving averages (MA 5,10,30) suggest a neutral stance, with short-term MAs flattening around the longer-term trend. The MACD (12,26,9) histogram shows weakening bearish pressure, hinting at a possible shift in momentum.<\/p>\n\n\n\n<p>Key support is at <strong>65.21<\/strong>, while resistance stands at <strong>66.80<\/strong>. A breakout above resistance could push prices higher, whereas a failure to hold support may lead to renewed selling pressure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">OPEC+, Venezuela Supply Risks and Other Factors in Focus<\/h2>\n\n\n\n<p>OPEC+ reaffirmed its decision to <strong><a href=\"https:\/\/www.msn.com\/en-us\/money\/economy\/opec-confirms-april-oil-output-increase-following-us-pressure-to-lower-prices\/ar-AA1AeNFz?ocid=BingNewsSerp\" title=\"\">increase production from April<\/a><\/strong>, phasing out <strong>2.2 million bpd<\/strong> of cuts in small increments. At the same time, <strong>Chevron must cease operations in Venezuela by April 3<\/strong>, which could disrupt crude flows and impact global supply in the short term.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"es\" dir=\"ltr\">Trump to end Chevron license in Venezuela in blow to Maduro <a href=\"https:\/\/t.co\/f0niJq7uNX\">https:\/\/t.co\/f0niJq7uNX<\/a> via <a href=\"https:\/\/twitter.com\/business?ref_src=twsrc%5Etfw\">@business<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1894882847304872009?ref_src=twsrc%5Etfw\">February 26, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The <strong>potential restart of the <a href=\"https:\/\/www.azernews.az\/analysis\/238397.html\" title=\"\">Kirkuk-Ceyhan pipeline<\/a><\/strong> and an expected <a href=\"https:\/\/www.msn.com\/en-us\/money\/other\/kazakhstan-expects-to-raise-cpc-oil-exports-by-12-in-march\/ar-AA1AkTyZ?ocid=BingNewsSerp\" title=\"\"><strong>increase in Kazakh oil production<\/strong> <\/a>could counteract Venezuelan supply risks, keeping prices under pressure. <\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Market Outlook<\/h2>\n\n\n\n<p>Oil prices are <strong>struggling for direction<\/strong>, with traders <strong>balancing supply disruptions against increasing output<\/strong> from key producers. If <strong>demand remains steady<\/strong>, crude could see short-term support, but a further increase in supply could limit gains. <\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a><\/strong><strong>&nbsp;and&nbsp;<\/strong><strong><a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a><\/strong><strong>&nbsp;now.<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.vtmarkets.com\/#facebook\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WTI crude trades near $66.395, stabilizing after recent losses as traders assess OPEC+ supply plans and Chevron\u2019s Venezuela exit. -vtmarkets.com<\/p>\n","protected":false},"author":66,"featured_media":17833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[66],"class_list":["post-17822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-oil"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/17822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/comments?post=17822"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/17822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media\/17833"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media?parent=17822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/categories?post=17822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/tags?post=17822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}