May 21, 2024 14:45 GMT
OIL: Return of OPEC Voluntary Cuts Not Expected in 2024: FGE
OIL
OPEC member voluntary production cuts are not expected to return to the market in 2024, according to FGE cited by Bloomberg, but OPEC spare capacity and demand will keep oil prices in check.
- Oil prices are expected between $90/bbl to $95/bbl in Q3 and Q4 but could drop to $75/bbl next year.
- Long term prices are predicted between $70/bbl to $75/bbl due to carbon emission costs.
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