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Goldman Sachs Commodities Research analysts increased Brent forecasts by $5/bbl to $95/bbl (vs. 90 previously) for December 2023, and to $100 (vs. 97) for December 2024.
Oil prices fell 2% on Monday after China’s stimulatory plans failed to impress traders and oil alliance OPEC lowered its demand forecast. West Texas Intermediate closed at $73.83 per barrel ...
The current oil price level is a stark difference from the 2023 highs in late September and a 28% rally in the third quarter. On Friday crude posted its third consecutive week of losses, its ...
Crude oil markets are waiting what OPEC will do about production as a major meeting is going on to decide whether or not the production cuts will be continued.
The announcement triggered a free fall in oil prices and other consequences that day, with brent crude falling by 30%, the largest drop since the Gulf War. [24] [25] The West Texas Intermediate, a grade of crude oil used as a benchmark in oil pricing fell 20%. On 9 March 2020, stock markets worldwide reported major losses thanks in part to a ...
Crude oil continues to sit still and wait for the OPEC decision coming out of the meeting. This is a market that still has plenty of support underneath though. Crude Oil Price Forecast – Crude ...
Oil reached its highest level since March 17 on April 14, with WTI at $63.15 and Brent at $66.58 as U.S. crude inventories fell and OPEC forecast higher demand and more economic growth. Optimism about the end of the pandemic was a factor. [45]
Crude oil markets rallied a bit during the trading session on Thursday again, as we await the results of the OPEC meeting. That being said, the market is also approaching the top of an important ...