WTIUSD

OPEC+'s decision to increase production by 411,000 barrels per day in May and global demand concerns continue to exert pressure on the oil market. The reported increase of 0.244 million barrels in crude oil stocks in the U.S. remained below expectations, keeping prices stable. Goldman Sachs forecasts an average of $63 per barrel for 2025, while WTI is currently trading at $62.411. If the pivot level of 62.911 is surpassed, a move towards the resistance at 63.66 may be observed. However, if the support at 62.911 is broken, a pullback to 62.201 may occur. U.S.-China trade tensions and developments in the Middle East should be closely monitored.