Oil under pressure as OPEC+ weighs further output hike ahead of US-Iran talks

Oil under pressure as OPEC+ weighs further output hike ahead of US-Iran talks

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Oil under pressure as OPEC+ weighs further output hike ahead of US-Iran talks
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Crude oil prices have fallen for three consecutive days due to concerns over potential increased supply from Iran and OPEC+'s plans for a production hike. Brent and WTI futures have reached their lowest levels in over a week, influenced by geopolitical tensions and rising US crude inventories. The demand outlook remains weak amid global growth concerns, although there is cautious optimism for a rebound if US tariff negotiations progress.

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