Brent Oil to move toward $90 by end-2023 – UBS Oil Brent Banks
Given the constructive forces we see for crude in the coming months, we remain positive on Oil and continue to expect prices to rise to $90/bbl by end-2023 amid demand-supply mismatches.
We expect supply to remain tight in the coming weeks, given the extension of Saudi and Russian-led production and export cuts. Libya also remains a wildcard, with some political stakeholders threatening to stop production in September if their requests are not met. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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