WTI Crude – Will oil prices encourage Russia and Saudi Arabia to extend cuts?

<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fwti-crude-will-oil-prices-encourage-russia-and-saudi-arabia-to-extend-cuts%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fwti-crude-will-oil-prices-encourage-russia-and-saudi-arabia-to-extend-cuts%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fwti-crude-will-oil-prices-encourage-russia-and-saudi-arabia-to-extend-cuts%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/email.png" border="0" alt="Email" /></a></p><ul>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Oil prices have been trending lower again in recent days after rebounding on Tuesday, around the October lows in the case of WTI. There are clearly concerns around demand going into next year, particularly around China, which OPEC this week sought to relieve, to no avail."}]}" data-slate-node="element"><strong>Growth concerns weigh on demand expectations</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Oil prices have been trending lower again in recent days after rebounding on Tuesday, around the October lows in the case of WTI. There are clearly concerns around demand going into next year, particularly around China, which OPEC this week sought to relieve, to no avail."}]}" data-slate-node="element"><strong>OPEC+ meeting later this month eyed for further cuts</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Oil prices have been trending lower again in recent days after rebounding on Tuesday, around the October lows in the case of WTI. There are clearly concerns around demand going into next year, particularly around China, which OPEC this week sought to relieve, to no avail."}]}" data-slate-node="element"><strong>WTI hits lowest level since July</strong></li>
</ul>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Oil prices have been trending lower again in recent days after rebounding on Tuesday, around the October lows in the case of WTI. There are clearly concerns around demand going into next year, particularly around China, which OPEC this week sought to relieve, to no avail."}]}" data-slate-node="element"><span data-slate-node="text">Oil prices have been trending lower again in recent days after rebounding on Tuesday, around the October lows in the case of WTI. </span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Oil prices have been trending lower again in recent days after rebounding on Tuesday, around the October lows in the case of WTI. There are clearly concerns around demand going into next year, particularly around China, which OPEC this week sought to relieve, to no avail."}]}" data-slate-node="element"><span data-slate-node="text">There are clearly concerns around demand going into next year, particularly around China, which OPEC this week sought to relieve, to no avail.</span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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"><span data-slate-node="text">The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. </span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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"><span data-slate-node="text">The lack of a commitment to extend so far may reflect a desire to not but as we&#8217;ve seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board.</span></p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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"><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/K2islTpLXXU?si=T2KvRP4hU4LkuUcy" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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"><strong>Four-month low in WTI</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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">After running into resistance around $80, near the October lows, WTI has been trending lower once more and some interesting tests lie ahead</p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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"><strong>WTICOUSD Daily</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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"><a href="https://www.marketpulse.com/wp-content/uploads/2023/11/WTICOUSD_2023-11-16_17-37-08.png" target="_blank" rel="noopener"><img loading="lazy" class="aligncenter wp-image-808691" src="https://www.marketpulse.com/wp-content/uploads/2023/11/WTICOUSD_2023-11-16_17-37-08-1024×412.png" alt="" width="621" height="250" srcset="https://www.marketpulse.com/wp-content/uploads/2023/11/WTICOUSD_2023-11-16_17-37-08-1024×412.png 1024w, https://www.marketpulse.com/wp-content/uploads/2023/11/WTICOUSD_2023-11-16_17-37-08-300×121.png 300w, https://www.marketpulse.com/wp-content/uploads/2023/11/WTICOUSD_2023-11-16_17-37-08-768×309.png 768w, https://www.marketpulse.com/wp-content/uploads/2023/11/WTICOUSD_2023-11-16_17-37-08-1536×619.png 1536w, https://www.marketpulse.com/wp-content/uploads/2023/11/WTICOUSD_2023-11-16_17-37-08.png 1793w" sizes="(max-width: 621px) 100vw, 621px" /></a></p>
<p style="text-align: right" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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">Source &#8211; OANDA on Trading View</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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">It has already fallen back to the next test of support around $74 where it appears to be stalling. That said, today&#8217;s sell-off has been quite strong so it will put that support level to the test.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The recent trend may make it difficult for Saudi Arabia and Russia to allow their unilateral cuts to expire at the end of the year, which is something markets may be gradually pricing in. The lack of a commitment to extend so far may reflect a desire to not but as we've seen so often in the past, the producers will do whatever it takes to support the price. The question may be whether they can get others on board."}]}" data-slate-node="element" data-slate-fragment="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">Below here, $70 stands out as another possible support zone, although arguably $68 below here is more significant having provided strong support earlier in the summer.</p>