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Brent oil price could surge as high as US $150 / barrel says JP Morgan

JPMorgan on the rising oil price, say that Brent could continue to $150 / bbl.Citing:OPEC+ supply cuts, mainly led by Saudi Arabia - they have cut circa 1mn bbl/day from the market - and RussiaIncrease in demandshocks to capacitya supercycle for energymoves to reduce the globe's reliance on fossil fuels, that'll have the tendency to promote a lack of investment in new oil productionThe JPM analyst forecasts Brent between $90 and $110 in 2023 then higher in 2025 (sees the global supply and demand... Read More

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Brent

Price

Could

Surge

High

150 Barrel

Says

Morgan

Forex

Posted: Sep 25 2023, 06:30

Author Name: forexlive

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