Strategy Insight
2024 Brent Forecast Down A Tad To $112/bbl
US and Chinese oil-demand strength will offset EU weakness next year. Incremental supply growth from non-OPEC 2.0 producers, coupled with a lower risk of the US enforcing its sanctions on Iranian oil exports, reduces our 2024 Brent price forecast by $6/bbl, and takes it to $112/bbl.
BCA Research | Commodity & Energy Strategy
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