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Editor's note: Updated Aug. 17, 2020.
For the upcoming week, Stratas Advisors forecast during the fourth quarter that oil demand will outpace supply by around 900,000 bbl/d.
For the upcoming week, Stratas Advisors predicts the price of Brent crude will bounce upwards from the $85 level, which is the current floor for Brent prices and could approach $87.
For the upcoming week, Stratas Advisors forecasts crude supply to increase during the fourth quarter with non-OPEC supply forecasted to increase by 1.10 MMbbl/d.
For the upcoming week, Stratas Advisors predicts upward pressure on oil prices unless de-escalation occurs between Israeli and Hamas forces.
For the upcoming week, Stratas Advisors predicts efforts to reduce Iranian crude exports won’t occur, however there is still a risk that supply disruption will put upward pressure on oil prices.
If the flow of oil is not disrupted amid conflict, Stratas Advisors expects the risk premium will start eroding and the previous price dynamics will return.
Stratas Advisors still holds the view that oil prices will not break through $100/bbl this year.
Concerns about the global economy will be a counterforce on oil prices, says Stratas Advisors' John Paisie.
Prices rebounded in the second half of the week with crude inventories in the U.S. decreasing to levels on par with that of 2019.
Stratas Advisors predicts that oil prices will be under pressure due in part to supply/demand and global economy issues.
Stratas Advisors expects that oil prices will moderate in fourth quarter 2023 after the increase in prices in third quarter 2023.
Stratas Advisors expects the price of Brent crude oil will not break $87 for the upcoming week.
Stratas Advisors is forecasting oil demand will outstrip supply by 1.24 MMbbl/d in third quarter 2023 and by 1.11 MMbbl/d in the fourth quarter.
A Reuters poll indicated that oil prices this year will stall, as weak economic growth is expected to curb demand.