31 Aug, 23

Oil Price Forecast Gets Boost On OPEC Output Cut Expectations 

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A group of 37 economists and analysts have raised their 2023 oil price forecasts for the first time in four months saying OPEC+ output cuts will be enough to offset weak economic growth in China.  The commodity experts have predicted Brent crude will average $82.45 a barrel in 2023, higher than the July consensus of $81.95, while WTI crude is seen averaging $77.83 a barrel for the entire year, above the previous $77.20 forecast. The new Brent forecast implies prices will average $86.15 for September through December, slightly lower than the…

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