{"id":23267,"date":"2025-07-01T08:56:54","date_gmt":"2025-07-01T08:56:54","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=23267"},"modified":"2025-07-01T08:56:54","modified_gmt":"2025-07-01T08:56:54","slug":"opec-supply-talks-put-pressure-on-oil-prices","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-eu\/analysis\/opec-supply-talks-put-pressure-on-oil-prices\/","title":{"rendered":"OPEC+ supply talks put pressure on oil prices"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-1024x536.png\" alt=\"\" class=\"wp-image-23272\" srcset=\"https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-1024x536.png 1024w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-300x157.png 300w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-768x402.png 768w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-500x262.png 500w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-400x209.png 400w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-350x183.png 350w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2-200x105.png 200w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/3-2.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>Oil prices are under pressure as traders grow cautious ahead of the upcoming OPEC+ meeting. Expectations of a possible supply increase, combined with weaker demand and rising inventories, have weighed on sentiment and capped upward momentum.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Oil dips on OPEC+ risk<\/strong><\/h2>\n\n\n\n<p>Crude oil prices edged lower on Tuesday morning, as market participants turned cautious ahead of the upcoming OPEC+ meeting scheduled for 6 July.<\/p>\n\n\n\n<p>West Texas Intermediate (WTI) crude slipped by 0.2% to trade at $64.96 per barrel, while Brent crude eased to $66.62 per barrel.<\/p>\n\n\n\n<p><\/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\">Here\u2019s the latest news and analysis on the oil market <a href=\"https:\/\/t.co\/WGD8kcSRuh\">https:\/\/t.co\/WGD8kcSRuh<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1939818755502063934?ref_src=twsrc%5Etfw\">June 30, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>The subdued sentiment followed reports suggesting that key OPEC+ members are considering an additional output increase of 411,000 barrels per day (bpd) for August.<\/p>\n\n\n\n<p>Although not yet confirmed, the potential for further supply growth is putting downward pressure on oil prices \u2013 especially as demand forecasts soften and global inventories build.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Mixed supply signals cap bullish momentum<\/strong><\/h2>\n\n\n\n<p>The oil market remains caught between opposing forces. On one hand, improving risk appetite continues to lend support to commodities.<\/p>\n\n\n\n<p>On the other, rising US crude stockpiles and the likelihood of increased OPEC+ output have curbed upward momentum.<\/p>\n\n\n\n<p>Analysts at ANZ Research noted that market concerns are now centred on the pace of supply hikes from the alliance, particularly with demand across <a href=\"https:\/\/www.reuters.com\/business\/energy\/chinas-iran-oil-imports-surge-june-rising-shipments-teapot-demand-2025-06-27\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"Asia showing signs\">Asia showing signs<\/a> of levelling off.<\/p>\n\n\n\n<p>Persistently weak economic indicators from China and narrowing global refinery margins have further dampened the outlook for a balanced oil market.<\/p>\n\n\n\n<p>Until the outcome of the OPEC+ meeting is confirmed, traders are expected to remain cautious.<\/p>\n\n\n\n<p>A sustained break above the $65.50 resistance level may require either a surprise policy shift from producers or stronger global demand signals.<\/p>\n\n\n\n<p>Conversely, a drop below $64.50 could open the door to further downside toward $63.70.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Technical analysis: Key levels to watch<\/strong><\/h2>\n\n\n\n<p>WTI crude is currently under pressure, having failed to reclaim the recent high of $66.08.<\/p>\n\n\n\n<p>The price has since retreated into a narrow consolidation range, hovering just below the $65.00 psychological mark and currently sitting around $64.85.<\/p>\n\n\n\n<p>From a technical perspective, the market is showing signs of indecision. Price action is consolidating between key support at $64.51 and resistance at $65.10.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"442\" src=\"https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-1024x442.jpg\" alt=\"\" class=\"wp-image-23269\" srcset=\"https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-1024x442.jpg 1024w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-300x129.jpg 300w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-768x331.jpg 768w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-500x216.jpg 500w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-400x173.jpg 400w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-350x151.jpg 350w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a-200x86.jpg 200w, https:\/\/www.vtmarkets.com\/en-eu\/wp-content\/uploads\/sites\/33\/2025\/07\/ea6ae08c-1a73-4776-9637-6b6f9329026a.jpg 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Picture: Oil stalls under $65 as momentum fades, as seen on the <a href=\"https:\/\/apps.apple.com\/au\/app\/vt-markets-online-trading\/id1372647263?mt=8\" target=\"_blank\" rel=\"noopener\" title=\"VT Markets app\">VT Markets app<\/a>.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Short-term moving averages (5, 10, and 30-day) are flattening, suggesting weakening momentum.<\/p>\n\n\n\n<p>The MACD has crossed below its signal line, and the histogram is alternating between red and green\u2014further evidence of a lack of clear direction.<\/p>\n\n\n\n<p>Should WTI break below the $64.51 support zone, it could pave the way for a move towards $64.00.<\/p>\n\n\n\n<p>On the upside, bulls would need a firm close above $65.10 to retest the $65.50 level and potentially extend gains.<\/p>\n\n\n\n<p>The 6 July OPEC+ meeting remains the key catalyst. Confirmation of an additional supply hike could pressure prices further, while a more cautious approach or hints at future tapering might provide support and lift oil back toward the $65.50 area.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Click <a href=\"https:\/\/www.vtmarkets.net\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\" target=\"_blank\" rel=\"noopener\" title=\"here\">here<\/a> to open account and start trading.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices are under pressure as traders grow cautious ahead of the upcoming OPEC+ meeting. Expectations of a possible supply increase, combined with weaker demand and rising inventories, have weighed on sentiment and capped upward momentum. Oil dips on OPEC+ risk Crude oil prices edged lower on Tuesday morning, as market participants turned cautious ahead <a href=\"https:\/\/www.vtmarkets.com\/en-eu\/analysis\/opec-supply-talks-put-pressure-on-oil-prices\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":5,"featured_media":23272,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37],"tags":[],"class_list":["post-23267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts\/23267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/comments?post=23267"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts\/23267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/media\/23272"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/media?parent=23267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/categories?post=23267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/tags?post=23267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}