Oil prices could reach $100 a barrel in 2024 if OPEC+ members fulfil pledges for voluntary cuts
Publishing timestamp: 2023-12-01 01:56:29
Summary
Some OPEC+ oil producers have voluntarily pledged to cut output, leading to expectations of rising oil prices in the new year. However, there is skepticism and confusion among traders due to the way the production cuts were announced. If the pledged cuts are fulfilled, crude prices are expected to climb, and some analysts forecast higher prices in the range of $80-$100 per barrel in 2024.
Sentiment: MIXED
Tickers: UBSG-CH, @CL.1, @LCO.1, GS, GSBD,
Keywords: iraq, united states, goldman sachs group inc, business news, ice brent crude (apr'23), energy, kuwait, saudi arabia, united arab emirates, wti crude (mar'23), oil and gas, goldman sachs bdc inc, ubs group ag, riyadh, russia,
Source: https://www.cnbc.com/2023/12/01/oil-prices-set-to-rise-in-2024-after-opec-voluntary-cuts.html