Reported 23 days ago
Analysts forecast that oil prices will dip below $60 per barrel as OPEC+ increases production to regain market share. The recent decision to raise output by 548,000 barrels per day in August marks the group's fourth consecutive increase. While demand, especially from China, remains strong, experts like Goldman Sachs anticipate further production hikes in September, with Brent crude projected to average $59 by the end of 2025. Despite a recent rise in prices linked to geopolitical tensions, analysts expect the market will stabilize, projecting a recovery in 2026.
Source: YAHOO