"OPEC+ Production Cuts Fail to Satisfy Crude Oil Markets"

Crude oil prices were unable to gain momentum despite OPEC+ extending production cuts, as disagreements within the alliance raised concerns about its effectiveness. The decision to include Brazil in OPEC in 2024 was also announced. Forecasts of a possible surplus in 2024 contributed to the extended cuts. The upcoming week may see a potential rebound in the USD, which could negatively impact crude oil prices. Technical analysis suggests a bearish bias with the formation of bear flag patterns on both Brent crude and WTI charts.