After strong gains in previous sessions, crude oil prices retreated Wednesday on analyst expectations they had brushed up against a market ceiling. “Synchronized global growth, robust demand for oil, high compliance [with an OPEC deal] and geopolitical risks provide support [for crude oil prices],” Ole Hanson, the head of commodity strategy at Saxo Bank, said in an emailed market report. “Capping the upside for now are… concerns that current prices could accelerate non-OPEC production further.” Saudi Arabia, the de facto head of the Organization of Petroleum Exporting Countries, has continued to roll out a “whatever it takes” platform for balancing a market tilted slightly toward the supply side. OPEC and a handful of producers outside the group, like […]