"Supply Cuts Drive Oil Prices Up 25% Since Late June"

Oil prices have surged by over 25% since late June as supply cuts by key OPEC+ players, including Saudi Arabia and Russia, continue to squeeze the market. Brent International topped $90 per barrel for the first time since November, while West Texas Intermediate crude hovered above $87 per barrel. Despite a slower-than-expected recovery in China's economy and increased production output by US producers, experts predict that crude oil prices will either remain stable or continue to rise due to ongoing supply cut initiatives and Saudi Arabia's need to fund internal projects. The market will closely monitor the demand outlook, particularly in China, which has significant inventories and storage capacity.