The American network “CNBC” expected, in a report issued on Friday, that oil prices would exceed $100 per barrel next year as a result of the commitment of some oil producers in the “OPEC+” alliance to reduce production.
The coalition issued a voluntary statement announcing the production cuts that will be implemented in the first quarter of 2024, with cuts led by Saudi Arabia.
The report expects that OPEC+ members’ commitment to these cuts will lead to a rise in oil prices over the next year, and attributes this rise to a continued improvement in the oil market and a shortage in supply.
Expectations from banks such as UBS and Goldman Sachs indicate continued global demand for oil and the impact of the expected cuts on improving market balance.
It should be noted that oil prices have decreased recently due to concerns about the slowdown in global demand and the increase in oil production by some producing countries, but the commitment to production cuts aims to support oil prices and market stability.
nrttv.com
