{"id":59597,"date":"2026-08-15T10:33:36","date_gmt":"2026-08-15T10:33:36","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/oil-prices-hovering-at-lows-with-rising-supply-and-uncertain-demand\/"},"modified":"2026-08-15T10:33:36","modified_gmt":"2026-08-15T10:33:36","slug":"oil-prices-hovering-at-lows-with-rising-supply-and-uncertain-demand","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-hovering-at-lows-with-rising-supply-and-uncertain-demand\/","title":{"rendered":"Oil prices hovering at lows with rising supply and uncertain demand\u00a0"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Key points:<\/strong>\u00a0<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>WTI crude futures remain near $73 per barrel, holding at four-month lows.\u00a0<\/li>\n\n\n\n<li>Brent crude futures hover around $76 per barrel, near three-month lows.\u00a0<\/li>\n\n\n\n<li>US crude inventories increased by 4.052 million barrels, defying expectations of a 1.9-million-barrel draw.\u00a0<\/li>\n\n\n\n<li>OPEC+ agreed to extend most supply cuts into 2025 but opened the door to the unwinding of voluntary cuts from eight countries starting in October.\u00a0<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p class=\"wp-block-paragraph\">WTI crude oil\u00a0(Symbol: USOUSD) hovered near $73 per barrel on Wednesday, maintaining their position at four-month lows after five consecutive sessions of decline. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/06\/Image-10-1024x506.jpg\" alt=\"\" class=\"wp-image-13606\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/06\/Image-11-1024x508.jpg\" alt=\"\" class=\"wp-image-13607\" style=\"width:1425px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The images above show the decline in oil prices, as observed on the <a href=\"https:\/\/apps.apple.com\/au\/app\/vt-markets-online-trading\/id1372647263?mt=8\" target=\"_blank\" rel=\"noreferrer noopener\">VT Markets app<\/a>.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Extra crude oil supply coming from the US<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Industry data revealed a significant increase in US crude inventories, which jumped by 4.052 million barrels last week. This was a stark reversal from the decline\u00a0of 6.49 million barrels last week, and defied market expectations for a total supply of 1.9 million barrels draw. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, US gasoline stocks rose by more than 4 million barrels, surpassing market expectations. These stockpiles suggest that supply is outpacing demand, contributing to the downward pressure on oil prices.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>OPEC+ extending supply cuts<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">On Sunday, OPEC+ announced an extension of most of their supply cuts into 2025 but indicated that voluntary cuts from eight member countries could gradually&nbsp;take place&nbsp;starting October. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On Sunday, OPEC+ announced an <a href=\"https:\/\/x.com\/ReutersBiz\/status\/1797538715772014942\" target=\"_blank\" rel=\"noreferrer noopener\">extension of most of their supply cuts into 2025<\/a>, indicating a continued effort to manage the global oil supply and support prices. \u00a0<\/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=\"en\" dir=\"ltr\">OPEC+ agreed to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival US production. More here: <a href=\"https:\/\/t.co\/a2lUkWO9Pe\">https:\/\/t.co\/a2lUkWO9Pe<\/a> <a href=\"https:\/\/t.co\/tft3ld3RLB\">pic.twitter.com\/tft3ld3RLB<\/a><\/p>&mdash; Reuters Business (@ReutersBiz) <a href=\"https:\/\/x.com\/ReutersBiz\/status\/1797538715772014942?ref_src=twsrc%5Etfw\">June 3, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">However, OPEC+ also opened the door for the gradual unwinding of voluntary cuts from eight member countries starting in October. These countries include Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>You may also like: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/oil-treasury-yields-decline-as-us-sees-falling-job-openings\/\" target=\"_blank\" rel=\"noopener\" title=\"Oil, treasury yields decline as US sees falling job openings\">Oil, treasury yields decline as US sees falling job openings<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This will bring in additional supplies of over 500,000 barrels per day\u00a0by December, and 1.8 million barrels per day into the market by June 2025. This move reflects a cautious approach by OPEC+ to balance market stability with the need to meet rising global demand without causing a supply glut.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Outlook for oil in short-to-mid term<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Crude oil prices may continue to face downward pressure if US inventory levels remain high and global demand remains uncertain. Monitoring OPEC+ actions and inventory reports will be crucial for short-term price movements.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Further, the gradual re-entry of 1.8 million barrels per day into the market by June 2025 could limit any significant price recovery unless global demand shows substantial improvement. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As always, inventory levels and production decisions by the OPEC+ remain key drivers of oil price movements in <a href=\"https:\/\/www.vtmarkets.com\/tools\/education\/trading-guides\/how-to-trade-oil\/\" target=\"_blank\" rel=\"noreferrer noopener\">oil trading<\/a>. As these factors unfold, traders can seek out market direction and trading opportunities in the oil sector.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Create your live VT Markets account<\/strong><\/a><strong> and <\/strong><a href=\"https:\/\/myaccount.vtmarkets.com\/login\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>start trading<\/strong><\/a><strong> now.<\/strong>&nbsp;<\/p>\n\r\n\n\n\n<p class=\"wp-block-paragraph\"><b>Start trading now \u2014 click <a href=\"https:\/\/www.vtmarkets.com\/en-ca\/trade-now\/\">here<\/a> to create your real VT Markets account.<\/b>\n\n<\/p>\n\n<!-- vt-src:13605 -->","protected":false},"excerpt":{"rendered":"<p>Key points:\u00a0 WTI crude oil\u00a0(Symbol: USOUSD) hovered near $73 per barrel on Wednesday, maintaining their position at four-month lows after five consecutive sessions of decline. Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook.\u00a0 <a href=\"https:\/\/www.vtmarkets.com\/analysis\/oil-prices-hovering-at-lows-with-rising-supply-and-uncertain-demand\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-59597","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Key points: WTI crude oil (Symbol: USOUSD) hovered near $73 per barrel on Wednesday, maintaining their position at four-month lows after five consecutive sessions of decline. Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook. 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Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook. 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Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook. 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Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook. Continue Reading","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website"},"breadcrumb":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-hovering-at-lows-with-rising-supply-and-uncertain-demand\/#breadcrumblist"},"author":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"creator":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"datePublished":"2026-08-15T10:33:36+00:00","dateModified":"2026-08-15T10:33:36+00:00"},{"@type":"WebSite","@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website","url":"https:\/\/www.vtmarkets.com\/en-ca\/","name":"VT Markets","inLanguage":"en-US","publisher":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#organization"}}]},"og:locale":"en_US","og:site_name":"VT Markets -","og:type":"article","og:title":"Oil prices hovering at lows with rising supply and uncertain demand - VT Markets","og:description":"Key points: WTI crude oil (Symbol: USOUSD) hovered near $73 per barrel on Wednesday, maintaining their position at four-month lows after five consecutive sessions of decline. Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook. Continue Reading","og:url":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-hovering-at-lows-with-rising-supply-and-uncertain-demand\/","article:published_time":"2026-08-15T10:33:36+00:00","article:modified_time":"2026-08-15T10:33:36+00:00","article:publisher":"https:\/\/www.facebook.com\/vtmarketsglobal\/","twitter:card":"summary_large_image","twitter:site":"@vtmarketsglobal","twitter:title":"Oil prices hovering at lows with rising supply and uncertain demand - VT Markets","twitter:description":"Key points: WTI crude oil (Symbol: USOUSD) hovered near $73 per barrel on Wednesday, maintaining their position at four-month lows after five consecutive sessions of decline. Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook. Continue Reading","twitter:creator":"@vtmarketsglobal"},"aioseo_meta_data":{"post_id":"59597","title":null,"description":null,"keywords":null,"keyphrases":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_custom_url":null,"og_image_custom_fields":null,"og_custom_image_width":null,"og_custom_image_height":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema_type":null,"schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"none","tabs":null,"priority":null,"frequency":null,"local_seo":null,"created":"2026-08-15 10:33:36","updated":"2026-08-15 10:33:36"},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\" title=\"Home\">Home<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/\" title=\"Today&apos;s Analysis\">Today's Analysis<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\tOil prices hovering at lows with rising supply and uncertain demand \n<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.vtmarkets.com\/en-ca"},{"label":"Today's Analysis","link":"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/"},{"label":"Oil prices hovering at lows with rising supply and uncertain demand\u00a0","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-hovering-at-lows-with-rising-supply-and-uncertain-demand\/"}],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=59597"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59597\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=59597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=59597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=59597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}