The Oil market is likely to be eagerly awaiting tomorrow's decision by the eight OPEC+ countries that have voluntarily cut their production. Following media reports that some delegates had already indicated that they would probably decide on a further significant increase in production,

Oil prices are trending downward for the week as OPEC+ prepares another production increase and a U.S. court pauses a ruling blocking Trump-era tariffs.

High inventories, OPEC output hikes and an uncertain global macroeconomic climate all seem to point to likely lower crude oil prices over the near-term.