Despite growing divisions within OPEC, including the UAE's withdrawal from the cartel, global oil prices have continued to climb sharply. Analysts point to a combination of supply constraints, geopolitical tensions, and strong demand as key drivers.
"The market is looking past OPEC's internal strife and focusing on tight supply and robust consumption," said one energy analyst.
Crude benchmarks have risen over the past few sessions, with Brent crude approaching multi-year highs. The rally has boosted energy stocks, with refining and exploration companies seeing significant gains.
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