Natural Gas and Oil Forecast: Will OPEC+ Talks Trigger New Volatility in May?
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Crude oil prices are experiencing a second consecutive weekly decline amid geopolitical tensions and trade disruptions. The upcoming OPEC+ meeting on May 5 could significantly impact oil supply and market dynamics. Analysts warn of potential oil demand reduction if global GDP growth falls below 3%, with the U.S. Energy Information Administration already reducing domestic and global demand forecasts.
April 11, 2025 | 8:15 am
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NEUTRAL IMPACT
The Brent Oil ETF (BNO) is likely to experience price fluctuations based on the upcoming OPEC+ meeting and current market uncertainties. Current technical indicators suggest a bearish trend with potential for short-term recovery.
The BNO ETF directly tracks Brent crude oil prices, which are currently showing a fragile short-term structure with bearish broader trends. The upcoming OPEC+ meeting could trigger significant price movements.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75