Oil progress after China defines steps to increase consumption

Oil increased the next day after China, the largest importer in the world, said that he would take steps to revive consumption by increasing income.

Brent Prude has increased above 71 USD for a barrel after promotion on Friday by 1%, with West Texas Intermediate close to 68 USD. Beijing also provided details about policies stabilizing inventory and real estate markets, wages of lifting and increasing the birth rate in the country, said the National Press Agency Xinhua.

Crude oil dropped by over USD 10 for a barrel from this year’s maximum in January, as an escalating trade war of US President Donald Trump, OPEC decision to increase supply and possible end of the war in Ukraine, all prices. This week, Trump can talk to the Russian leader Vladimir Putin when the US is pressing the contract to end the fight in a three -year conflict.

Outlook led the Goldman Sachs Group Inc. to reduce your raw forecasts, analysts, including Daan Struyven in a note on Sunday. Giant Wall Street also said that an increase in oil demand would be lower than previous estimates, because the tariffs threaten global growth.

“While the sale of a barrel in the amount of USD 10 from mid -January is greater than changing our basic basics, we reduce our forecast by $ 5 in December 2025 for Brent to 71 USD,” said analysts. “The average risk for our forecast remains in a minus, taking into account the potential tariff escalation and potentially longer increase in OPEC production.”

Meanwhile, American military strikes on Houthi fighters in Yemen will be “inexorable” until the group stops attacking civil and military ships in the Red Sea, said Pentagon head Pete HegeSeth on Sunday. This occurs the day before from President Trump to attack in Yemen, controlled by Houthi supported by Iran.

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This article was generated from the automatic channel of the press agency without modifying the text.