BRN May Be On Track For Its Best Week Since Early January

• Brent crude fell below $76 per barrel this week
• 30-40% drop in oil deliveries via Caspian Pipeline
• Iraq’s Kurdistan export resumption still uncertain
• OPEC+ might delay production increases

Brent crude dipped below $76 per barrel but remained on track for its best week since early January due to rising supply concerns.

Russia reported a 30-40% decline in oil deliveries through the Caspian Pipeline Consortium, a vital Kazakh export route. Meanwhile, the restart of exports from Iraq's Kurdistan region remained unclear.

On the supply side, OPEC+ members indicated they might delay planned production increases, citing a fragile market and difficulties in meeting production cut targets.

Despite this, oil prices faced downward pressure from the possibility of improving US-Russia relations and potential peace talks that could ease sanctions on Russian oil.

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