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Why Oil May Regain Upward Momentum

Oil markets continue to be lackluster compared with the strength displayed by metals and gas markets.
StanChart has predicted that the bearish sentiment coupled with low market volatility are likely to persist until OPEC+ announces its new policy.
Experts have predicted that positive developments by OPEC+ could trigger another oil price rally.

Extreme, But Unjustified, Pessimism Has Returned to Oil Markets

The oil price selloff appears to have been triggered by a return of demand pessimism thanks to last week’s report by the EIA that showed a 7.3M-barrel build in U.S. crude stocks.
Standard Chartered: demand fears are overblown.
StanChart says that traders are betting that OPEC+ will maintain the current levels of production restraint.