Oil prices have shown a rebound, recovering from 16-week lows, driven by the prospect of stricter sanctions on Russian crude oil. However, expectations of increased supply from OPEC+ countries are tempering the rally. This dynamic indicates a tug-of-war between supply constraints due to geopolitical factors (sanctions) and potential supply increases from major producers. Geopolitical tensions and OPEC+ decisions remain key drivers for oil prices. Investors should monitor the effectiveness of sanctions, OPEC+ output decisions, and global demand indicators.