Brent Oil Prices To Exceed $80/Bbl By The End Of 2023, Current Oil Prices Reflect Market's Assessment Of Global Macroeconomic Situation

Published: May 26, 2023 15:17 (GMT+8)

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Russian Deputy Prime Minister Alexander Novak said that the current Brent crude oil price of $75-76/bbl reflects the market's assessment of the global macroeconomic situation.

Russian Deputy Prime Minister Alexander Novak said that the current Brent crude oil price of $75-76/bbl reflects the market's assessment of the global macroeconomic situation. He believes that the factors leading to the decline in oil prices include high interest rates in the United States and slow global economic recovery.

Novak expects oil demand to pick up this summer, with Brent prices above $80 a barrel by the end of the year.

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