Oil slips for third day on prospect of US rates staying high
Oil slips for third day on prospect of US rates staying high
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Oil slips for third day on prospect of US rates staying high
A continuously fading war risk premium and signs that regional oil markets look well supplied prompted traders to slash last week their bullish bets on crude oil at the fastest pace in over a year
The OPEC+ group could influence oil prices by returning some of the 2 million bpd supply it is currently keeping off the market
The OPEC+ group decided to keep its production cuts unchanged until the end of the first half of 2024, meaning oil markets are set to tighten.
Analysts at Deutsche bank expect the price of Brent crude to climb to $88 by the end of this year due to rising demand.