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Growth risks to restrain oil in 2024, but Mideast risks loom large | Hellenic Shipping News Worldwide
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Growth risks to restrain oil in 2024, but Mideast risks loom large, Reuters poll shows
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The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
Oil prices will stall this year as weak economic growth is expected to curb demand and offset the impact of OPEC+ production cuts on supply, a Reuters poll showed on Monday. U.S. crude was seen averaging $77.20 a barrel in 2023, down from the previous month's $78.38 forecast, and $78.25 in 2024. "We expect the impact of high interest rate levels to start curbing economic growth more strongly over H2 2023," data and analytics firm Kpler said, maintaining "a comparatively bearish view on the market".
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