The short-term key interest rate rises from 0.25% to 0.5%.
As the increase was expected, things should not go as smoothly as last August. In addition, I $OXY (-3,95 %) and $TTEK (+1,14 %) in the portfolio and have already seen enough red this week 😄
The oil market is facing a potential surplus, as both the USA and China are increasing their production and demand is falling short of expectations. Analysts warn that an oversupply could put further pressure on prices, especially if China's economy does not recover as hoped. The dynamic could present OPEC+ with new challenges to maintain market stability.
You can find more information in the article on Business Insider.
The news is based on what I personally consider to be reputable sources. However, I do not guarantee their accuracy. No investment advice. Follow me for more updates!
The International Energy Agency (IEA) is forecasting an oversupply on the oil market for 2025. The reason for this is the planned expansion in production, while demand growth is slowing down. Rising capacities in the USA and countries such as Brazil and Guyana in particular could push supply above the level of global demand. According to the IEA, these developments could stabilize oil prices or even put them under pressure.
Personal opinion:
The election of Donald Trump is also a big factor that could put a lot of pressure on oil prices. With the oil price already weak, Trump has announced that he will boost oil production during his candidacy. To me, that sounds more like oil prices will continue to fall.
