Citi Doesn’t See $100 Oil Despite Shock OPEC+ Cuts | OilPrice.com

OPEC+ members, led by Saudi Arabia and other major Middle Eastern producers, announced a fresh combined cut of 1.16 million bpd until the end of this year.

Morse: The latest cuts from OPEC+ are an effort to prevent a collapse in oil prices similar to the one seen during the 2008/2009 financial crisis.Oil prices are not going anywhere near $100 per barrel despite the latest production cuts announced by members of the OPEC+ group, as U.S.

“To get to a $100 oil we have to have significantly more oil taken out of the market,” he said, for example with disruptions in supply from countries like Iran, Iraq, Libya, and Nigeria altogether at the same time without certainty when that oil can come back to the oil market. “I believe strongly that the increase in prices we have already had is going to place U.S. production on a higher path to growth,” he added.

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman Sachs Raises Oil Price Forecast Following OPEC+ Cut | OilPrice.comJust hours after OPEC+ shocked markets with an announcement that it would cut oil production further, Goldman Sachs boosted its oil price forecast for 2023 by $5. Huh GasBuddyGuy ⛽️ lol 🥃👌🏻 Those market predicters are 🤡, they just follow market... End of the month
Source: OilandEnergy - 🏆 34. / 68 Read more »

Oil price: new unimproved Opec+ helps US shale drillers\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Source: ftenergy - 🏆 47. / 63 Read more »

Oil price: new unimproved Opec+ helps US shale drillers\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Source: FT - 🏆 113. / 51 Read more »

FirstFT: Opec+ makes surprise cuts in oil production\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT. Not so good for the US attempts at reining in inflation Of benefit to Russia and others in OPEC+, pushing up demand and price pressure
Source: ftenergy - 🏆 47. / 63 Read more »

Oil prices surge as Opec+ makes unexpected production cut\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Source: ftenergy - 🏆 47. / 63 Read more »

Oil Prices Soar As OPEC+ Shocks The Market | OilPrice.comOPEC+ has sent oil prices soaring with its surprise announcement - an announcement that it is notable was made outside its regular monthly meeting. Exactly why everyone should get off oil ASAP
Source: OilandEnergy - 🏆 34. / 68 Read more »