Commerzbank cuts 2023 midyear Brent crude #oil forecast to US$80 from $95
“The price slide is chiefly attributable to concerns that oil demand could weaken as a result of the latest market turmoil, even though there has been no sign of this happening as yet
Though the latest price slide is due for the most part to higher risk aversion following the market turmoil, it is not probable that this will be quickly and completely reversed
After all, fundamentals such as market balance and stock levels no longer look as price-positive as the International Energy Agency had previously predicted”