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Crude Oil Price Forecast: Rally Back on Track After Bear Trap Advertisement Crude Oil Outlook: Crude oil prices took a dive earlier this week, but price action suggests that the bearish impulse is in the rearview mirror. The OPEC+ announcement seems to have been digested by markets, which are refocusing on the reality of the supply-demand imbalance likely to persist. Bears Be Warned While US equity markets have been climbing their own wall of worry, so too have crude oil prices: the delta variant; the OPEC+ announcement to increase supply; and the surprise climb in US oil inventories. With respect to the three points above, you can read more about the delta variant and its implication for financial markets here.

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