Crude oil price prediction for December

Crude oil prices closed higher last week as the buyers are working on a bullish case. Prices received a major boost after OPEC+ finally reached an agreement on production output levels.  Fundamental analysis: Agreement reached OPEC+, consisting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, announced they will increase output by 500,000 barrels per day starting from January.  This will slightly reduce the cuts to 7.2 million bpd as the previous agreement was based on 7.7 million bpd cut until March. The group was locked in talks for days before the agreement was finally reached.  “500,000