At the same time, OPEC+ fell 500,000 barrels per day short of its pledged production increases between April and August. This shortfall\u2014roughly 0.5% of global oil demand\u2014has sustained upward pressure on prices. With most non-core producers operating at or near capacity, the group\u2019s ability to respond with additional supply remains constrained.<\/p>\n
Kurdistan Crude Return Could Limit Gains \u2014 But Not Reverse Trend<\/p>\n
Some bearish relief may come from the partial return of Kurdish crude. Iraq\u2019s semi-autonomous region is poised to resume exports through the Kirkuk-Ceyhan pipeline, with initial volumes expected around 180,000\u2013190,000 barrels per day. However, ongoing payment disputes are delaying full-scale shipments, and at least one major producer has held back exports.<\/p>\n
Unless volumes ramp quickly, the restart is unlikely to offset the broader supply-side constraints. For now, the return of some Kurdish barrels serves more as a cap on excessive upside than a driver of reversal.<\/p>\n
Fed Caution and Strong GDP Data Slow Rate-Cut Momentum<\/p>\n
On the macro front, a hotter-than-expected U.S. GDP revision to 3.8% has tempered expectations for additional Federal Reserve rate cuts. While the Fed delivered a 25-basis-point cut last week, the strength in economic data may delay further easing.<\/p>\n
A slower rate-cut path could support the U.S. dollar and weigh modestly on crude, but so far, these factors remain secondary to physical supply constraints.<\/p>\n
Weekly Technical Outlook: Upside Momentum Targets $69.34 and Beyond<\/p>\n","protected":false},"excerpt":{"rendered":"At the same time, OPEC+ fell 500,000 barrels per day short of its pledged production increases between April…\n","protected":false},"author":2,"featured_media":42656,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[33990,114,2791,2794,33991,85,46,2797,14944,33992],"class_list":["post-42655","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-brent-oil","tag-business","tag-commodities","tag-fundamental","tag-home-page-4","tag-il","tag-israel","tag-technical","tag-weekly","tag-wti-crude-oil"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/42655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=42655"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/42655\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/42656"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=42655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=42655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=42655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}