Oil at $85: OPEC+ Cuts Hold — But for How Long?

Brent crude has settled into a range between $82 and $87 per barrel following confirmation that OPEC+ will maintain its 1.66 million barrel per day production cut through the end of the year.

China demand remains the key downside risk. PMI readings have surprised to the downside for three consecutive months, raising questions about whether the world's largest oil importer is experiencing a structural slowdown or a cyclical soft patch.

From a trading perspective, the $80 level represents a key demand zone supported by OPEC+ rhetoric. On the upside, supply concerns related to the Middle East could push toward $90.