Oil prices are hovering in the $60–65 per barrel range right now. What's moving the needle? Geopolitical tensions involving Greenland have cooled down, which took some pressure off the market. At the same time, traders are parsing through conflicting signals—Kazakhstan and Venezuela are ramping up production, adding fresh barrels to the global supply pool. But here's the catch: demand growth remains sluggish. So it's basically a tug-of-war between rising output and muted consumption. That equilibrium is keeping prices locked in this band. Watch how this plays out—shifts in either supply or demand could shake things loose pretty quickly.