Enverus Intelligence Research this week reaffirmed its forecast that Brent prices will reach $100 per barrel of oil by the end of 2023. Al Salazar, senior vice president, said Wednesday, “Fundamental data released prior to our deadline of Aug. 31 has been mixed. However, we are reaffirming our call that Brent prices will reach $100 per barrel by the end of this year.”
Enverus said its price call is contingent on three conditions: (1) improving global economic sentiment, (2) OPEC adherence to stated production cuts and (3) consistent OECD crude and product stock draws at or above 1 million b/d or more.
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