Ample supply, subdued demand to curb oil prices despite geopolitical risks

Core Viewpoint - Analysts are maintaining their oil price forecasts due to a balance between rising OPEC+ output targets and weak demand, which counteract geopolitical supply risks [1] Group 1 - OPEC+ output targets are increasing, contributing to a stable supply outlook [1] - Demand for oil remains lacklustre, which is impacting price expectations [1] - Geopolitical risks are not significantly affecting supply forecasts at this time [1]