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DAVOS, Switzerland, January 12, 2024--Business leaders faced an all-time-high rate of change in 2023 and now expect it to accelerate further in 2024, says Accenture.
As concerns about global oil demand persist, OPEC+ cuts will be critical to keeping markets balanced, but how effective they will be remains to be seen.
Considering the current factors affecting the trade, the short-term outlook for the oil market appears to be cautiously bearish, even as OPEC maintains a positive global outlook
Sentiment in oil markets has shifted dramatically this week, with oil prices falling rapidly, but that downward trend may not continue for much longer.
Oil rallied toward the end of the week with traders keeping an eye on interest rate hikes and geopolitical risk stemming from the Middle East