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Wall Street is raising its forecasts on oil prices following a surprise OPEC+ announcement to cut production. ... “We have revised up our end-2023 Brent forecast to $90 per barrel ($85 ...
Oil prices fell on a report that Israel will avoid targeting Iranian crude infrastructure. ... IEA prediction of supply glut. ... "marking a sharp slowdown" from the levels seen over the 2022-2023 ...
The day after oil fell nearly 5 percent to a four-month low, the fourth down week finished with Brent at $80.61 and WTI at $75.89 as a result of continued bad news from China, high U.S. inventories and record production, with sanctions on Russian oil shipments causing prices to increase. [41] [42]
The average price for Russian crude oil in January 2023 was $49.48pb down 42% in January 2022 prices and well below the $60pb price cap. [124] Early projections by the EU estimated that the price cap on Russian oil would cost Russia around 160m euros ($175m) every day ($60b pa). [180]
One result of those slack prices is that U.S. average pump prices for gasoline fell to $3.03 a gallon this week, the lowest since May, 2021 and well down from their record peak of $5.02 from June ...
[58] On 28 September 2021, Sullivan met in Saudi Arabia with Saudi Crown Prince Mohammed bin Salman to discuss the high oil prices. [59] The price of oil was about US$80 by October 2021, the highest since 2014. [60] [61] The United States delivered 16 billion cubic meters of LNG to Europe in January 2022, and 6 billion in February. [62]
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A negative forecast for the world economy also affected oil prices. [ 19 ] On July 15, after the largest drop in U.S. crude supplies of the year, WTI reached $41.20 and Brent $43.79, the highest since March 6 for both. [ 20 ]
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