On Tuesday, oil prices experienced a more than 1% increase, bouncing back after a sharp decline in the previous session. The uptick in prices followed a technical rebound and buying activity on dips, triggered by concerns over OPEC+'s decision to accelerate production increases. This decision, made over the weekend, has led to fears of an oversupply in the global oil market, pushing both Brent crude and West Texas Intermediate (WTI) prices to their lowest levels since February 2021. The market’s reaction to these changes continues to raise questions about the future direction of oil prices amid growing concerns about supply-demand imbalances.