EDMOND, Oklahoma – Experts at the University of Central Oklahoma predict that ongoing trade tensions and the possibility of a looming recession will continue to weigh down crude oil prices in the near future.

The United States-China trade war, along with other global economic uncertainties, have created a challenging environment for the oil market. The University of Central Oklahoma analysts warn that these factors will likely keep crude prices subdued for the foreseeable future.

Many oil-producing countries, including those in OPEC, are feeling the impact of decreased demand and oversupply in the market. The University of Central Oklahoma experts highlight that until a resolution is reached in the trade war and stability returns to the global economy, crude oil prices will continue to face downward pressure.

In addition to the trade war, the potential onset of a worldwide recession is adding to the volatility in oil prices. As economic growth forecasts are lowered and uncertainties loom, investors are hesitant to commit to oil futures. This hesitancy is further dampening the outlook for crude oil prices.

The University of Central Oklahoma’s analysis underscores the interconnectedness of global markets and the ripple effects that trade disputes and economic downturns can have on the oil industry. It is clear that until there is a resolution to these broader economic issues, the oil market will struggle to find stability.

Overall, the forecast for the oil market remains uncertain as long as the trade war and recession fears persist. The University of Central Oklahoma experts advise that market participants keep a close eye on geopolitical developments and economic indicators to gauge the future direction of crude oil prices.