Fundamentals Point To Flat Oil Prices in 2024 ...Middle East

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Without a major geopolitical escalation in the Middle East, oil prices are likely to remain around current levels this year, due to a comfortable spare capacity at OPEC+ producers and largely balanced supply and demand outlooks, analysts say. Attacks by the Iran-backed Houthis on commercial shipping in the Red Sea and the US-UK strikes on military targets in Yemen in response moved Brent oil prices briefly above $80 per barrel at the end of last week, but prices quickly pulled back to around $78 a barrel in Asian trade…

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Last updated : 16 January 2024 clock 04:09 AM

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Fundamentals Point To Flat Oil Prices in 2024 ...Middle East

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