OMV(Vienna,Austria)says it has cut its forecast price for Brent crude oil to $60 per barrel(bbl)to reflect the increasing pace of the worldwide energy transition toward lower-carbon energy sources."The revised oil price planning assumptions reflect our believe that the pace of transition to a lower carbon world will accelerate,"it says.OMV will"reposition our portfolio towards products which are also essential in a widely decarbonized world"and make itself"less vulnerable to the long-term oil price development."
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