OPEC+
Brent was down 2 percent so far this week, while WTI was 2.7 percent lower
Both Brent and WTI were up 1 percent so far this week after a surge earlier in the week
The International Energy Agency (IEA) expects global oil stocks to rise by over 700,000 b/d across the year
U.S. and China cut tariffs temporarily, boosting markets but leaving uncertainties unresolved.
Chinese Vice Premier He Lifeng said a U.S.-China joint statement would be released on Monday
Despite signs of easing tensions, analysts cautioned that the recent tariff-driven volatility in the oil market was not over yet
Despite gains, oil prices have suffered significant losses in 2025 due to slowing demand and rising production
Crude stocks fell by 4.5 million barrels recently, with analysts expecting further declines in inventories
Brent crude futures reached $61.20, while U.S. West Texas Intermediate settled at $58.05 a barrel
Barclays lowered its Brent forecast by $4 to $66 a barrel due to OPEC+ decisions
The United States has approached China to seek talks over Trump's 145 percent tariffs, and Beijing's door was open for discussions
