Commoney Wise
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
  • Login
  • Register

  Breaking
Commission: Florida judge should be reprimanded for conduct during Parkland school shooting trial June 6, 2023
Biden to convene his Cabinet on the heels of debt ceiling resolution June 6, 2023
Breach of Nova Kakhovka dam unleashes floodwaters June 6, 2023
Binance Sees $700 Million in Ethereum Outflows Amid SEC Charges, Highest Since March Crypto Crisis June 6, 2023
Starbucks is bringing its controversial olive oil coffee to more cities June 6, 2023
Next
Prev

en English
en Englishes Españolde Deutschfr Françaisit Italianopt Portuguêsru Русскийzh-CN 简体中文hi हिन्दीja 日本語
Casino
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
No Result
View All Result
Commoney Wise
Casino
  • News
  • Politics
  • Business
  • Economy
  • Finance
  • Investing
  • Markets
  • Crypto
  • Tech
  • Videos
Home Markets Commodities

Brent could quickly top $90/bbl on Fed pivot, China demand recovery – BofA

Staff by Staff
December 12, 2022
in Commodities
0 0
A A
0

© Reuters. FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo/File Photo/File Photo

(Reuters) – Global oil benchmark could rebound and quickly rise past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve’s monetary policy and a “successful” economic reopening by China, Bank of America (NYSE:) (BofA) Global Research said.

Lately, oil prices have been steadily declining due to fears that a weakening global economy would slash fuel demand, setting prices on track for a second consecutive quarterly fall. [O/R]

BofA forecasts Brent prices – trading at $75.95 a barrel on Monday morning – to average $100/bbl in 2023, driven also by a Chinese oil demand recovery on a post-COVID reopening and a drop in Russian supplies of about 1 million barrels per day (bpd) against the backdrop of European Union sanctions.

Moreover, a 2 million bpd OPEC+ output cut could be implemented in full to support prices, the bank said in a research note dated Dec. 9.

China last week announced the most sweeping changes to its resolute anti-COVID regime since the pandemic began three years ago, loosening rules that curbed the spread of the virus but sparked protests and hobbled the world’s second-largest economy.

However, “our oil demand and price projections for 2023 rely heavily on robust China and India demand growth, so any Asia reopening delays could affect our expected price trajectory,” said the bank, adding the path to a post-pandemic environment may be bumpy “given the low levels of immunity in China”.

Read the full article here

ShareTweetSharePinShareSendShare
https://www.madmoneycasino.com/?faff=667&sub=DemCasino

Related Articles

Commodities

Energy & precious metals – weekly review and outlook

February 26, 2023
Commodities

U.S. to impose 200% tariff on aluminum from Russia -White House

February 25, 2023
Commodities

Aluminium prices shrug off 200% U.S. import tariffs for Russia

February 25, 2023
Commodities

US 2022 power plant emissions fell on switch from coal to gas -EPA

February 25, 2023
Commodities

Gold down 4th week after aimless trades, as dollar spikes on rate bets

February 24, 2023
Commodities

Natural gas at mid-$2 as bulls eye higher ground in unhelpful winter

February 24, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Commoney Wise

Commoney Wise is your one stop news website for the latest finance, business and crypto news, follow us to get the news that matters to your minute by minute.

Our Other Brands Kronosslott, Commoneywise, Demcasino.de, SportsExtremes.tv, Slotgamesusawwr, Coin Desk Times, Kingsofgolf.be

Topics

Business Commodities Crypto Economy Finance Forex Futures Investing Markets News Politics Stocks Tech Videos

Get Informed

The most important world news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • Privacy
  • Terms
  • Press
  • Advertise
  • Contact

© 2022 Commoney Wise. All Rights Reserved.

No Result
View All Result
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos

© 2022 Commoney Wise. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.