Reported 4 months ago
Crude oil futures are on the rise ahead of the upcoming OPEC+ meeting, with expectations that oil prices may increase, particularly after OPEC extended production cuts in March. Morgan Stanley's Martijn Rats discusses the potential for oil prices to remain below $75 per barrel for Brent crude and how seasonal demand during the summer months could impact prices. Rats suggests that if prices fall below $75, it could become challenging to sustain them for an extended period due to the impact on US Shale production. He forecasts that prices could potentially reach $90 per barrel and emphasizes the significance of seasonal demand trends in influencing the market.
Source: YAHOO