15 Dec, 23

Oil Prices Stage a Comeback After Hitting Six-Month Low

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This week, the oil market witnessed a significant rebound, driven by a confluence of factors including a weaker dollar and revised demand forecasts from major energy organizations. After a period of decline that saw prices reaching a six-month low, the market’s recovery highlights its dynamic nature and sensitivity to global economic indicators. Revised Forecasts from IEA, OPEC, and EIA The International Energy Agency (IEA) has updated its oil demand forecast for 2024, projecting an increase in global consumption by 1.1 million barrels per day…

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