Fundamental analysis of WTI

Crude oil prices have noticeably increased and are trading around 81.10 USD. One of the main factors behind the price growth was the global supply deficit. With major exporters such as Saudi Arabia and Russia strategically limiting supply, the global oil situation is of interest to traders and investors alike. 
The sharp reduction in oil supply is the result of a conscious decision by the largest exporters: oil exports from OPEC+ countries fell for the second month in a row. Saudi Arabia was particularly cautious, cutting supplies to China by 30% in June-July. Russia, despite lower tariffs, is still the main supplier of oil to China, however, China has started to utilize its previously accumulated large reserves. The consequences of this are obvious as Chinese refiners cut back on new purchases. The worsening housing crisis and the possibility of a slowdown have raised concerns about the stability of the Chinese economy and raised questions about the sustainability of oil demand. However, it should be noted that Chinese refiners increased exports of their refined products in July, leading to higher export margins. At the same time, China's House Price Index fell in July, adding to fears of a possible collapse in China's real estate sector. Fears of a deepening debt crisis in China have intensified following the bankruptcy of Evergrande, the second largest real estate company, adding to market uncertainty. News that China is considering additional stimulus measures, such as the People's Bank of China's (PBOC) announcement on local government debt relief, may contribute to the decline in WTI prices. 
Meanwhile, the US has seen the number of active drilling rigs fall to its lowest level since March 2022. OPEC+ appears to be having a decisive impact and future conditions will largely depend on global economic factors and interest rate adjustments.  The Fed may announce a rate hike to combat high inflation and the economic fallout that lower oil demand could cause. This weekend, market participants will be watching events such as the Purchasing Managers' Index (PMI) and takeaways from Federal Reserve Chairman Jerome Powell's conference speech. These events could have a significant impact on the volatility of the WTI price.
Technical analysis and scenarios:

The price is trading in the upper range of the Bollinger Bands, indicating bullish momentum in the short term. The widening of the bands indicates an increase in volatility, which could mean a larger price move in the direction of the prevailing trend, which is upward.
Main scenario (BUY)
Recommended entry level: 81.50.
Take Profit: 82.50.
Stop loss: 81.00.
Alternative scenario (SELL)
Recommended entry level: 80.50.
Take Profit: 79.70.
Stop loss: 81.00.