#Crudeoil Update | MCX | Mar 4

🔸Timeframe: 1 hour

🔸Crude most likey to touch the support at 6560 and move towards upward direction.

🔸OPEC+ may continue to cut oil production beyond Q1 to avoid oversupply.
🔸Commerzbank predicts oil prices will stay strong at $80 per barrel if geopolitical risks persist.
🔸Extending cuts until year-end would signal market tightness and positively impact prices.