Saudi oil price ‘aggressiveness’ to push Brent over $90/b this year: DNB Markets

摘要

Saudi Arabia’s “price aggressiveness” will likely see the world’s top oil exporter push Brent crude futures over $90/b by the end of the year despite lingering concerns over the pace of demand recovery in China, Norway’s top investment bank DNB Markets said Aug. 25. Saudi Arabia’s unilateral production cut of 1 million b/d first launched in June was “a clear signal of price aggressiveness,” the bank said, adding that it expects to see a deep oil market undersupply averaging 1.5 million b/d in the second half of 2023 leading to sharply lower oil inventories.