Hedge funds increasing long positions are signaling confidence in the "oil price forecast May 2025", with technical charts showing a breakout above the 200-day moving average for WTI crude. At the same time, the OPEC cartel has approved multiple production rate increases as Saudi Arabia looks to take market share away from the US. Most recently, the cartel announced in September that its member countries will be boosting production by 137,000 barrels per day in October. Central bank policy rates in advanced and emerging economies 2019-2025 Seasonal factors influence the "oil price forecast May 2025", as summer travel in the northern hemisphere boosts gasoline demand, leading to firmer crack spreads.