Traders Weigh OPEC+, Tariffs, and Resilient Demand

The crude oil market traded with sharp volatility this week as traders balanced OPEC+ production increases, renewed geopolitical risks, and the threat of U.S. tariffs against evidence of strong underlying demand. This interplay shaped price action, with the market testing downside levels but finding bids on signs that supply additions may be absorbed more easily than feared. OPEC+ Supply Increases Pressure Oil Prices Forecast OPEC+ made headlines by announcing a 548,000 bpd production increase for August, a sharp acceleration from the previous…