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Projecting the oil price outlook just a few months out is proving to be a challenge, with prognostications by different experts varying by quite wide margins.
Central bank action and less-than-impressive economic indicators in China have had a detrimental impact on oil prices, but demand forecasts for H2 2023 remain strong
As international economists and oil analysts are turning more positive on the short to mid-term outlook for oil, the sentiment in oil markets continues to be decidedly bearish
Russia’s President Vladimir Putin has contradicted the position by OPEC+ that its 1.2 million barrels per day production cut announced in April was intended to balance the markets, with the Russian leader saying it was necessary to maintain relatively high oil prices