Oil prices (BZ=F, CL=F) are facing downward pressure on Tuesday as investors react to OPEC's reduced 2024 demand forecast. Looking ahead to 2024's fourth...
) are facing downward pressure on Tuesday as investors react to OPEC 's reduced 2024 demand forecast. Looking ahead to 2024's fourth quarter for the energy market, Yahoo Finance markets and data editorADVERTISEMENTLet's take a listen, the cost of heating your house and cooling your house that has to come down it, it's gone up 100%.
And if they were, if OPEC plus were to cut those 543,000 barrels per day in the fourth quarter, that would lead to an accumulation of 860,000 barrels per day next year.What we're looking at here is Brent crude oil.And by they, I mean, the Middle East in general needs about $100 per barrel of Brent to break even on their finances.And that's going to mean that they probably won't get as many government receipts if they do the opposite.
OPEC Downward Pressure Jared Blikre
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