JP Morgan sees oil prices hitting $125 in 2022, $150/bbl in 2023
Oil prices are expected to overshoot $125 a barrel next year and $150 in 2023 due to capacity-led shortfalls in OPEC + production, JP Morgan Global Equity Research said.
Oil rose on Thursday, with benchmark Brent crude futures around $69 a barrel, as investors adjusted positions ahead of an OPEC+ decision on supply policy, although concern the Omicron coronavirus variant could hit fuel demand capped price gains.Register now for FREE unlimited access to reuters.com
RegisterThe Organization of the Petroleum Exporting Countries and its allies will decide whether to release more oil into the market or restrain supply."We think OPEC+ will slow committed increases in early 2022, and believe the group is unlikely to increase supply unless oil prices are well underpinned," the bank said.
The bank forecast global oil demand to reach 99.8-101.5 million barrels per day in 2022-23.Register now for FREE unlimited access to reuters.comRegisterReporting by Kavya Guduru in Bengaluru; editing by Barbara LewisOur Standards:More from ReutersSign up for our newsletter headtopics.com
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Video: 'Once in a lifetime' rare blanket octopus spotted in Australia - CNN Video
The rainbow-hued octopus, seen swimming on the Great Barrier Reef, was caught on video by marine biologist Jacinta Shackleton.
Profits should return to '90s levels to lift worker pay: Morgan StanleyIt's time for corporate profits to return to the '90s so companies can make up for decades of underpaying workers, Morgan Stanley says 摩根士丹利表示，现在是时候让公司利润回到90年代，这样公司就可以弥补几十年来工资过低的工人 I agree with diagnosis. But DOW 20,000? Can this be done without a catastrophic market crash? you are nt going like this should be asking for more if you knew the real inflation numbers
After nearly 40 years in office, Oregon Rep. Peter DeFazio will run for reelection in 2022Oregon U.S. Rep. Peter DeFazio announced Wednesday he will be leaving Congress when his term ends in 2023 after nearly 40 years. 40yrs of sucking on the Government teat.
No More Overdraft Fees? Capital One Becomes First Large Bank To Pledge End To FinesThe move will cost the company about $150 million in lost revenue, according to a Capital One spokesperson.
U.S. could adjust timing of oil stockpile release if prices fall -officialThe Biden administration could adjust the timing of its planned release of strategic crude oil stockpiles if global energy prices drop substantially, U.S. Deputy Energy Secretary David Turk told Reuters on Wednesday.
17 Times Celebs Got Burned Soooo Badly In 2021May these celebs avoid reading the comments in 2022.
The School Board Fights Are Just Getting StartedSchool boards have reemerged as the site of political battles, with parents becoming more vocal about hot-button issues such as mandated vaccinations, masks on campus, and how topics like race or sexuality should be taught in class. They ought to be concerned with young white male terrorists and their access to guns. if that woman knew anything about crt she’d calm tf down There is nothing wrong wi ty h critical race theory