Oil prices have stabilized thanks to China’s announcement of market stimulus for stocks and real estate. This has offset concerns regarding increased oil supply and tightening monetary policies in the US and Europe.
Despite past declines in oil prices, a rally at the end of the previous week helped recover some lost positions. Key factors in this dynamic also include speculation about a potential easing of US sanctions on Iran and Venezuela, which could increase oil supply and impact demand in China. The decision of the US Federal Reserve not to take new measures at its September meeting has also positively influenced oil prices.
