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Core Insights - The article highlights a disconnect in the oil market perception, indicating that OPEC+ production increases do not equate to actual supply levels [1] - Despite negative supply signals, oil prices remain resilient, driven by historical peak refining demand and a significant drop in U.S. shale oil drilling activity [1] - The article suggests that a "summer lightning battle" in oil prices may occur, indicating a potential short-term window for bullish market movements [1] Group 1 - OPEC+ production increases do not reflect true supply levels in the oil market [1] - Oil prices are buoyed by record refining demand and a sharp decline in U.S. shale oil drilling [1] - A potential short-term bullish trend in oil prices is anticipated, referred to as a "summer lightning battle" [1]