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OIL: Brent Price Forecast for 2024 Lowered to $81.52/bbl: Reuters Poll

OIL
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Brent oil price forecasts for 2024 have been lowered for a fifth consecutive month to an average of $81.52/bbl due to weaker demand and uncertainty over OPEC’s plans despite geopolitical risks, according to a Reuters poll.

  • A survey of 41 economists and analysts averaged below a consensus of $82.86/bbl from a poll last month.
  • The WTI poll average for 2024 was down to $77.64/bbl from $78.82/bbl last month.
  • Oil demand growth is expected between 0.9mbpd and 1.2mbpd compared with between 1.0 and 1.3mbpd in the previous poll.

 

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Brent oil price forecasts for 2024 have been lowered for a fifth consecutive month to an average of $81.52/bbl due to weaker demand and uncertainty over OPEC’s plans despite geopolitical risks, according to a Reuters poll.

  • A survey of 41 economists and analysts averaged below a consensus of $82.86/bbl from a poll last month.
  • The WTI poll average for 2024 was down to $77.64/bbl from $78.82/bbl last month.
  • Oil demand growth is expected between 0.9mbpd and 1.2mbpd compared with between 1.0 and 1.3mbpd in the previous poll.

 

Keep reading...Show less