Bearish Sentiment Has Taken Over Oil Markets

Bearish sentiment has well and truly taken over oil markets, with oil prices barely reacting to the OPEC+ decision to postpone its plan to boost production.Friday, September 6th, 2024Usually, high-impact OPEC+ decisions trigger a notable reaction in the oil markets, but not this time. Sentiment has soured so much that the oil group’s decision to postpone the return of barrels they’ve cut in 2023 barely resonated at all, reinforcing fears that next year will see balances swinging heavily towards oversupply. As ICE Brent futures hover…