Oil price rally set to falter as demand doubts loom

By: Admin
193037

LONDON, Sept 25 (Reuters) - Oil prices may be near $100 a barrel, but a range of factors could prevent a sustained rally above that level, analysts say.

They include a projected rise in non-OPEC production, in addition to Russia's need to boost supply to increase revenue and the potential for oil demand to slow given already-high interest rates in major Western economies.

Brent peaked at nearly $96 a barrel last week and U.S. West Texas Intermediate hit $91 a barrel for the first time in 2023.

https://www.reuters.com/markets/commodities/oil-price-rally-set-falter-demand-doubts-loom-2023-09-25/