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Odds of $100 Oil Rise as Supply Shocks Convulse the Market

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

Intensifies fears of commodity-driven inflation resurgence Bloomberg News When oil prices jumped above US$90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence. A recent move by Mexico to slash its …

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Raymond James Expects Global Oil, Gas Upstream Capex Spending to Rise 3% in 2024

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Natural Gas, Oil, US News / By

Brokerage Raymond James says its global industry survey of upstream oil companies shows an uptick of 3% in capex spending in 2024, plateauing after 2023. ** Says global spending in 2024 would mark a fourth consecutive increase, albeit the slowest one – there is, however, a cumulative drop of 33% from the peak level of …

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BofA Hikes 2024 Oil Forecasts on Tighter Supply, Geopolitical Risks

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

Bank of America (BofA) Global Research has raised its 2024 Brent and WTI oil price forecasts, citing escalating geopolitical tensions and the OPEC+ producer group maintaining supply curbs. The bank now expects Brent and WTI crude prices this year to average $86 and $81 per barrel respectively, with prices of both peaking around $95 per …

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