FXStreet reports that Bart Melek, Head of Commodity Strategy at TD Securities, discusses WTI oil prospects.

“The expectations that OPEC+ commitment to keeping the supply cut regime in place into May likely means that demand will outpace inventories by another 500k b/d over the next three months. This means that there will be little reason to sell in response to the European woes.” 

“Considering the OPEC+ commitment to keeping markets tight suggests that there may well be room for WTI crude to test recent highs near $65/b, as we move into Q3, when demand is likely to jump by over 3 million b/d.”