Fitch: OPEC+ deal will be extended until at least end of this year - Reuters
|Fitch Ratings has recently published its updated report on oil and gas price predictions with key takeaways, via Reuters, found below. Meanwhile, crude oil didn't pay much attention to Fitch's comments and the barrel of West Texas Intermediate was last seen trading near $52, losing 1% on a daily basis.
- Increased geo-political tensions & economic uncertainty are likely to contribute to oil price volatility.
- OPEC+ to continue to manage supply to avoid large supply-demand imbalances.
- Lowered natural gas price assumptions, reflecting reduced marginal production costs in us and increased LNG supplies globally.
- Believe that OPEC+ deal will be extended until at least end of this year, though its parameters could change.
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