According to data from various oil-producing countries suddenly announcing production cuts,Production cuts this time have exceeded 1.6 million b/d, accounting for about 1.5% of global oil production.
After Saudi Arabia and other major oil producers announced voluntary production cuts, crude oil was mostly producedGoldman Sachs raised its Brent crude oil price forecast for the end of 2023 from $90 to $95.The forecast for the price of Brent crude oil at the end of 2024 was raised from 97 dollars to 100 dollars.
A more radical view comes from Pickering, co-founder of investment firm Pickering Energy Partners, who said in an interview:Unexpected production cuts in OPEC oil producers may raise global oil prices by $10 per barrel。
Furthermore, in the face of this sudden decision to cut production, it may also increase global inflationary pressure and may push central banks to maintain austerity policies for a longer period of time.
PS: Crude oil and natural gas are in competition with each other. If crude oil production is reduced, demand for natural gas will naturally rise, so don't forget to pay attention to natural gas~...
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