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Oil Price - Oil prices steady as markets refocus on demand concerns
13-08-2024 01:52
Oil prices steadied on Tuesday after rising for five consecutive sessions, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China.
Oil price up at close of tumultuous week
“Although crude oil prices have fallen recently, we continue to expect crude oil prices will rise in the second half of 2024,” the EIA said in an outlook update this week, forecasting a per-barrel price of between $85 and $90 by the end of the year.
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