Stratas Advisors expects certain factors will constrain the upward movement of oil prices throughout the rest of the year and beyond including projections of additional supply from U.S. shale producers, the firm said in its latest oil price forecast.
Growing optimism, growing risks? The price of Brent crude closed last week at $64.63 after reaching $66.78 on Feb. 25, but was still up for the week by 2.73%, Stratas Advisors says in its latest oil price forecast.
Oil prices reacted to a range of developments last week, including the blockage of the Suez Canal. However, the oil market will be soon turning its attention to the upcoming OPEC+ meeting, says Stratas Advisors in its latest oil price forecast.