The Energy Information Administration (EIA) of the U.S. Department of Energy recently released its forecast for OPEC’s daily crude oil production in 2026, projecting a steady increase to 33.08 million barrels per day.

You can see that even with the increase in several months, we haven't seen a major buildup in the inventories, which means the market needed those barrels'.

The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of difficulties affecting others.

Crude oil outlook turns bearish as geopolitical risks ease, OPEC plans a supply hike, and demand signals remain weak ahead of next week’s trade.