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[Balance of supply and demand helps stabilize oil prices] May 17venetianpoker, the international crude oil market rebounded slightly.
Ole Hansen, head of commodities strategy at Saxo Bank, pointed out that crude oil prices are solid at the low end of the expected range. At the end of April, the market observed that tensions in the Middle East did not significantly affect supply, triggering a decline in prices.
Hansen added that demand was sluggish due to falling refinery margins, but the OPEC + alliance was actively adjusting production to match targets.
Looking ahead, Hansen predicts that oil prices are expected to receive further support in the coming months as summer demand peaks.
