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BoA on oil: OPEC+ cuts, Asia demand - "Brent prices could spike past $100/bbl"

A higher oil price forecast into year-end from analysts at Bank of America, this in summary.BoA bottom line is:Should OPEC+ maintain the ongoing supply cuts through year-end against Asia's positive demand backdrop, we now believe Brent prices could spike past $100/bbl before 2024Analysts point to Asia:heavy Chinese transportation-sector consumption China petroleum fuel export quotas lowChina has continued to build oil inventories, sign of robust domestic demandAsian product markets relatively ti... Read More

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Content Topics

Oil

Opec

Cuts

Asia

Demand

Brent

Prices

Could

Spike

Past

brent

100 bbl

Forex

Posted: Sep 13 2023, 22:28

Author Name: forexlive

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