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The Oil Surplus Could Persist. Expect Prices to Fall
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Aug. 18: Stubborn Russian oil output and weaker-than-expected demand growth mean the oil market is likely to remain in surplus for the remainder of this year and into early next year, which should limit the upside in oil prices. Time spreads also point toward a looser market, with the backwardation in the prompt spreads narrowing significantly in recent weeks.
As a result, we have revised lower our oil price forecast for the remainder of this year—although, given that inventories are at historically low levels, we still believe that prices will remain elevated, while limited OPEC spare capacity and uncertainty over how Russian flows will evolve once the EU ban comes into full force should also limit downside in the medium term.
We have lowered our third-quarter 2022 and fourth-quarter 2022 Brent forecasts from $118 a barrel and $125 a barrel to $100 and $97, respectively. Our full-year 2023 Brent forecast has been revised down from $99 a barrel to $97 a barrel.
Warren Patterson| Barron’s
5 Comments on "The Oil Surplus Could Persist. Expect Prices to Fall"
makati1 on Sat, 20th Aug 2022 4:43 pm
Investment advice disguised as information? Hahahaha! Oil price is only going to go up. As it gets more scarce. It will increase, until, finally, it will not be wasted as previously. I see $500/bbl before I pass. Maybe higher.
makati1 on Sat, 20th Aug 2022 4:49 pm
BTW: That does NOT mean oily stocks will go up. I don’t see the stock market casino lasting that long.
cladder on Mon, 22nd Aug 2022 3:24 am
The information you bring is very real, reflecting correctly and objectively, it is very useful for society to grow together.
Theedrich on Wed, 24th Aug 2022 12:02 am
The Russian authorities have now discovered that it was Natalya Vovka (Наталья Вовк), a Ukrainian special agent officer, who murdered Daria Platonova (Dugina) (Дарья Платонова [Дугина]), daughter of well-known Russian philosopher and thinker Alexander Dugin (Александр дугин). Vovka has now escaped to Estonia, and thence, perhaps, to Austria.
its only a matter of time before supremacist muzzies state a week long attack in a western city or america and hundreds are killed any attempt to fight supremacist muzzies will be met with accusations of islamophobia and racism on Wed, 24th Aug 2022 12:13 pm
and the love for supremacist muzzies only increase
elements of false flag agencies will cash in and encourage supremacist muzzies to cause maximum damages
The 2008 Mumbai attacks[13] (also referred to as 26/11, pronounced “twenty six eleven”)[14][a] were a series of terrorist attacks that took place in November 2008, when 10 members of Lashkar-e-Taiba, an Islamist[15] terrorist organisation from Pakistan, carried out 12 coordinated shooting and bombing attacks lasting four days across Mumbai.[16][17][18] The attacks, which drew widespread global condemnation, began on Wednesday 26 November and lasted until Saturday 29 November 2008. A total of 175 people died, including nine attackers, and more than 300 were wounded.[4][5][19]
please feel at ease among friends
we’re all lovers of supremacist muzzies here.