An ICYMI on oil forecasts from Barclays.
Analysts assess the fair value estimate for Brent crude in 2024 at US$93/bbl and forward curve is at $80/bbl
Citing:
- oil markets have likely gone too far in worrying about demand and OPEC+ cohesion
- oil demand not falling off a cliff
- arguments about new target levels for African producers do not pose an existential threat to OPEC+
