Oil Prices Steady as Investors Weigh OPEC+ Moves and US Inflation Data

Oil prices steadied on Friday after early losses, as investors balanced potential supply increases from OPEC+ with signs of easing inflation in the United States. Brent crude futures edged up to $67.61 per barrel, while US West Texas Intermediate (WTI) held at $62.84 per barrel. Both benchmarks are on track for weekly declines following sharp losses earlier in the week, reflecting cautious market sentiment.


Prices initially fell after reports suggested that OPEC+ could resume boosting production from April, ahead of peak summer fuel demand. Tensions over US-Iran relations had previously supported higher crude prices, but market reactions were mixed amid the new supply signals.


Later, oil recovered as US inflation data came in below expectations for January, suggesting that interest rate pressures may ease and supporting risk-taking sentiment in financial markets. This combination of softer inflation and geopolitical caution helped stabilize prices after early volatility.
Despite short-term fluctuations, traders remain focused on the broader picture: ongoing global demand, potential OPEC+ output adjustments, and economic trends in the US that could influence energy consumption and investment.

Market Snapshot

Brent rose slightly to $67.61; WTI steady at $62.84.
Weekly declines expected after earlier losses.

OPEC+ supply and geopolitical tensions continue to influence price swings.

Soft US inflation provides support for market stability.