The oil markets are anticipating OPEC+ production cuts to continue in 2024, potentially leading to oil prices reaching $90 per barrel sooner than expected. Analysts suggest an improving macroeconomic outlook supports this trend, with UBS forecasting higher oil prices for the year. Supply, production capacity, and demand dynamics are expected to play key roles in stabilizing oil markets throughout the year.
Thanks to supply, production capacity and demand, it will take a lot to roil oil markets this year https://t.co/VZa0KvnIdI 👇
Much higher oil prices are almost in focus https://t.co/Y8nnviFw1z
Oil prices forecast for 2024 – UBS https://t.co/VujGXhHRuX https://t.co/jx4LRrIx6K
"an improving macroeconomic outlook could bring $90 per barrel sooner than assumed" https://t.co/i64MHecgXt
The oil markets are increasingly putting their trust into OPEC+ production cuts to remain in place throughout this year, a feat which combined with an improving macroeconomic outlook could bring $90 per barrel sooner than assumed https://t.co/D6a1OVvy65