According to Daniel Ghali, Senior Commodity Strategist at TDS, the outlook for crude markets to increase prices is quite limited. The upcoming OPEC meeting will be challenged by selling activity from CTA, although it may not have as strong an impact as in the gold market. This selling activity is expected to put pressure on prices. However, OPEC’s decision to increase production reflects a shift in their approach, driven by a desire to test US shale production, increase compliance, and regain leverage over supply to combat potential drops in demand. Despite resilient energy demand, peak US shale production, expired Venezuelan export licenses, and ongoing geopolitical tensions with Iran, the path to raising prices is still narrow. OPEC+ may bring back these additional barrels during the more favorable months, but the market may struggle to absorb them, especially after the summer. Overall, there are limited options for sustained price increases.