JP Morgan forecasts Brent crude oil to low $60s ...Middle East

JP Morgan projections come via Reuters oil reporting: With the window of opportunity to phase out production cuts now closed, OPEC+ will maintain current production levels at least for another year"Under this scenario, our price outlook calls for Brent to average $75 in 2025, with prices dipping into low-$60s by year-end"For oil, "$60 is not a good price for neither producers nor consumers, and OPEC would need to cut 1 mbd deeper, were the alliance to adhere to market management""Given oil’s large underperformance in August, we shave our 4Q24 price forecast from $85 to $80, but keep 2025 unchanged"A lot can happen between now and the end of 2025, no? This article was written

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