Brent Crude Oil to surge higher again toward $110 next year – UBS Oil Brent Banks OPEC
Downward pressure on Oil from a weaker global economy should be offset by lower global supplies
“Pandemic curbs in China look likely to remain a near-term headwind for Crude, adding to worries over ebbing demand as the global economy slows. That said, we remain positive about the“Leaders of OPEC+ exporting nations meet on December 4 and will consider steps to address the recent fall in prices. The price of Oil should be supported by the European Union’s ban on Russian Crude imports, which comes into force on December 5.
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