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"Our forecast of $90 Brent in 2023 rests on the view that OPEC+ alliance will do the heavy lifting to keep markets balanced next year. ... Brent $95-96, WTI $90 "The 2022 average price for WTI ...
Kaneva and her team predict Brent ... or a wider mid-Eastern war to really send prices back up to the 2022 or 2023 highs.” ... expects prices at the pump to average $3.20 per gallon next year ...
Despite a fall in prices due to negative economic news leading to expectations of lower demand, oil rose the next week for the first time in two months, with Brent finishing at $76.55 and WTI at $71.43. Also contributing to lower prices was a prediction of lower interest rates. [45]
Oil platform in the North Sea. Brent Crude may refer to any or all of the components of the Brent Complex, a physically and financially traded oil market based around the North Sea of Northwest Europe; colloquially, Brent Crude usually refers to the price of the ICE (Intercontinental Exchange) Brent Crude Oil futures contract or the contract itself.
Thirty-one U.S. states now have average gas prices below $3 a gallon. ... OPEC has cut its forecast for 2025 demand growth to 1.54 million barrels per day, from 1.85 million barrels per day in ...
This makes the measure important for market analysts. The OPEC Basket, including a mix of light and heavy crude oil products, is heavier than both Brent crude oil, and West Texas Intermediate crude oil. Since January 1, 2017, the OPEC reference basket consists of a weighted average of the following crudes: [1] Saharan Blend (from Algeria)
The breakeven price for North American shale oil was US$68 a barrel in 2015, making it one of the most expensive to produce. By 2019, the "average Brent breakeven price for tight oil was about US$46 per barrel. The breakeven price of oil from Saudi Arabia and other Middle Eastern countries was US$42, in comparison. [141]
The fourth-quarter Brent price deck remains at $75/bbl, in line with quarter-to-date levels and the strip, while the 2025 price deck stays at $70/bbl, consistent with J.P. Morgan’s outlook.