What is the OPEC forecast for crude oil prices?

OPEC also sees demand for their crude oil at 29.4 million bbls/d, which is below September production levels of around 29.8MMbbls/d. It is, however, important to remember that if we see effective cuts from OPEC of a little over one million bbls/d through 2023, this should mean that global oil inventories continue to decline next year.”

What is the future of crude oil prices?

According to our current CRUDE OIL BRENT price prediction, the value of CRUDE OIL BRENT is predicted to drop by -9.17% and reach $ 78.35 by January 8, 2023. According to our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 26 (Fear).

What factors affect crude oil prices?

The price of crude oil is affected by a variety of factors, including supply and demand, geopolitical events, and economic conditions. The price of crude oil can also be influenced by market speculation and other factors that affect the global oil market. Gasoline and petrol are two terms that are often used to refer to the same type of fuel.