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Crude oil price jump today: There was a recession in the oil market for the last few months, but now suddenly it has become hot. There is a rise in the prices of crude oil in the international market. There are two biggest reasons behind this – first, the decision of the Organization of Oil Producing Countries (OPEC+) and second, US President Donald Trump’s tough stance towards Venezuela.
Brent Crude cautiously on Monday
63 per barrel, while West Texas Intermediate (WTI) also crossed 63 per barrel, while West Texas Intermediate (WTI) also crossed 63 per barrel, while West Texas Intermediate (WTI) also crossed 63 per barrel.
60 Has reached close to. Let us understand why these prices suddenly started rising.
1. U-turn of OPEC+
This Saudi Arabia-led group was initially thinking of increasing oil production. But now they have made it clear that they will not increase production in the first quarter (Q1) of the new year. He has further extended the ‘ban’ imposed last month.
OPEC says that the market condition is a bit weak right now, so they will keep the supply tight. If supply remains low, prices will not fall – this is simple mathematics.
2. Trump’s evil eye on Venezuela
The real panic in the market has come from geopolitical tension. On Saturday, US President Donald Trump gave a big warning regarding Venezuela. He said that airlines should think about flying over that country, that is, they were threatening to close the airspace.
However, on Sunday he softened his statement a bit, but there is news that the American army is gathering in that area. Traders fear that if there is any conflict there, the oil supply may be disrupted. This fear is pulling prices up.
The sound of recession also continues
The month of November was very bad for oil. This was the fourth consecutive month that prices fell. The International Energy Agency (IEA) is even saying that in 2026 the world will have more oil than it needs (Record Glut). At the same time, a big agency like JP Morgan estimates that crude oil will fall. $50 per barrel Can even come up to.
But, at present, leaving aside these long predictions, the market is paying more attention to the ongoing tension between America and Venezuela and the decision of OPEC. There were some problems in the trading platform on Friday due to Thanksgiving, but now the business in Asian markets is back on track and the trend is bullish.