The overall sentiment among oil traders is wary these days. The OPEC+ production cuts went into effect at the start of 2019, but it’s too early to say who is delivering on their promises and who is stalling. Demand seems to be all right but worry about a global economic slowdown persists. Amid all this, crude may get some support from the current trend in the U.S. dollar, according to Reuters’ John Kemp. Kemp wrote last week that the greenback’s rally may be all but over, and when it started sliding, it would boost oil prices. An expensive dollar makes commodities and goods traded in the global reserve currency more expensive for buyers, but when it falls, these commodities and goods become more attractive and buying increases, eventually leading to higher prices. Kemp explains that the strong dollar has served to improve the United States’ internal balance, keeping inflation […]