Brent Crude Oil to reach $88 by year-end – Deutsche Bank
Source Fxstreet
Strategists at Deutsche Bank forecast Brent at $88/bbl by the end of 2024.
Continued OPEC+ discipline in a nearly balanced market for H1, and seasonal strength in H2
2024 Brent forecast at $88/bbl.
We look for continued OPEC+ discipline in a nearly balanced market for H1, and seasonal strength in H2.
With January OPEC compliance with voluntary curbs at ~50%, we see little upside for our H1 Brent $83/bbl.
The first possibility of relaxation of OPEC+ supply cuts will be in Q3 against a backdrop of tighter balances and higher prices, underpinned by seasonal strength.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Silver (XAG/USD) enters a bullish consolidation phase during the Asian session and oscillates in a narrow range near the all-time peak, around the $61.00 neighborhood, touched this Wednesday.
Bitcoin has reclaimed the $94,000 mark, suggesting a possible short-term bullish uptrend, despite concerns over liquidity.
Solana (SOL) targets a breakout above $145 as four days of ETF inflows, rising futures open interest, and growing on-chain liquidity signal a return of bullish momentum.
Gold Price Forecast: XAU/USD drifts higher above $4,200 as Fed delivers expected cutGold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.
Gold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.
