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The OPEC+ member countries reaffirmed on Wednesday their steadfast commitment to “unity and cohesion” as well as their continued cooperation to maintain stability of the oil market.
According to a forecast, Brent crude will average $82.56 next year
Crude oil prices were trading slightly down on Friday afternoon, just hours before the weekend and the Christmas holiday, reasonably unaffected by Angola’s decision to quit OPEC.
OPEC could potentially face further loss of market share in early 2024 following the recent departure of Angola, weakening demand and rising output by non-OPEC producers
The year 2023 may be looked upon by historians as “de facto the beginning of an organized new economic order,” Paul Goncharoff, owner of consulting company Goncharoff LLC, told Sputnik.